>> Investors knew something was coming, but perhaps not this. Results normally a question of what not when.>>
> Toshiba said it needs more time to investigate problems at its US power plant business. The full results now not expected for another month. The difficulties go further. The cost overruns at it's nuclear arm were revealed to be $6.3 billion, enough to drag the group to a full year loss and wipe out shareholder equity.
We would like to express our heartfelt apologies to everyone for causing this major inconvenience.>>
Chairman Shigenori Shiga is the first top level casualty, but shares still slid 8%, the group's market value now a fifth of what it was ten years ago.