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Title:Toshiba says Westinghouse profitable overall, writedown not needed

News Paper

TOKYO: Japan's Toshiba Corp said on Friday that it did not need to write down the assets of its US nuclear subsidiary Westinghouse because the business was profitable in general, despite losses in parts of the operations in 2012 and 2013.

Toshiba on Thursday confirmed a Nikkei Business magazine report saying Westinghouse fell into the red in fiscal years 2012 and 2013.

The report had raised concerns of more discrepancies after the company revealed earlier this year that it inflated profits over several years, since Toshiba had said Westinghouse was more profitable now than when it was bought in 2006.