>> Big problems call for big decisions and they say analysts could be the first of many for Toshiba.>> We decided on today's board meeting that on March 31st of this year we are going to spin off our memory chip business. Less than 20% will be sold initially of what for Toshiba accounts for 75% of its profits, a move made imperative by the need to raise funds for a big bill, $6 billion of charges expected for cost overruns at its U.S. power plant construction business.
That, too, the subject of this announcement. We have decided to make our nuclear business independent from energy system solutions and bring it directly under control of the president.>> Without the funds the charge could wipe out Toshibas shareholder equity. Even with them, it still faces tough choices. Reportedly, it wants 1.7 billion dollars from this sale.
More sales could be needed later on for a Japanese conglomerate still batted from a 2015 accounting scandal.>>
That announcement expected on February the 14th.>>