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World Business Report: First broadcast 2017/02/14 18:32 GMT: Toshiba Slumps on Nuclear Business Woes

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Toshiba's headquarters in Japan

First broadcast 2017/02/14 18:32 GMT

First broadcast 2017/02/14 18:32 GMT: Toshiba Slumps on Nuclear Business Woes

Toshiba Slumps on Nuclear Business Woes

BBC World Service - World Business Report, Toshiba Slumps on Nuclear Business Woes

Its chairman predicted losses of billions of dollars and resigned.

Toshiba is in big trouble. It's blaming unwise investments in nuclear power.

Toshiba was once one of the shining jewels of Japanese global commercial dominance; a big name in electronics, cars, lifts and railways. Now, it is a business in crisis - the chairman has resigned and it has predicted a loss this year of $3.4 billion. The reason? An unwise investment in nuclear power generation across the world, especially in the US. We spoke to the BBC's Japan correspondent Rupert Wingfield-Hayes. Meanwhile, Rolls Royce also posts huge losses after a fine for corruption puts a big hole in their finances. So is the industry clean now? We talk to Barry Vitou, partner at the city of London law firm Pinsent Mason, who specialises in fraud cases. (Photo Description: Toshiba's headquarters in Japan. Photo Credit: Toru Yamanaka/ AFP/ Getty Images)

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First broadcast 2017/02/14 18:32 GMT: Toshiba Slumps on Nuclear Business Woes

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