Toshiba takes $6.3B nuclear hit

• After a day of delays and confusion, Toshiba (OTCPK:TOSYY) Chairman Shigenori Shiga has resigned as the struggling conglomerate said it expected to book a $6.3B writedown on its U.S. nuclear business.
• The massive hit raises concerns about whether it can survive its latest financial woes and "would even impact Japan's sovereign credit rating if there’s a knock-on effect," said Tom O'Sullivan, a Tokyo-based energy analyst.
• Previously: Toshiba tumbles after earnings delay (Feb. 14 2017)