Toshiba may spin off nuclear power business

Toshiba Corporation is deliberating on whether to spin off its struggling nuclear power business in Japan and rebuilding it as a separate company as part of sweeping restructuring.

The restructuring is taking place after a record fine was handed to the company following an accounting scandal. Toshiba admitted that it had overstated its profits by nearly $2 billion over the past seven years.
Toshiba Corporation
Toshiba’s subsidiary, Westinghouse Electric Co., which is in charge of its overseas nuclear power business, will seek to secure orders in emerging markets, according to sources who spoke to Reuters.

Toshiba mainly conducts repair and decommissioning work for boiling water reactors — the same type as those at the Fukushima plant. Westinghouse, on the other hand, is known for pressurized water reactors that are used more globally, the sources said.

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