Shareholders of struggling Toshiba Corp. Thursday slammed management for a disastrous plunge caused by the company's failed nuclear gamble, questioning whether the 142-year-old conglomerate can survive the aftermath.
"Do you remember last year's shareholders meeting? (Toshiba said) nuclear power and flash memory would be two core businesses," a Toshiba investor said at an emergency shareholders meeting held in Chiba's Makuhari Messe. "Westinghouse was not a core but a hole, and Toshiba fell right in."
The irate shareholder lamented that a company with a storied history like Toshiba has found itself in a grave financial crisis, with a negative equity position due to massive losses from Westinghouse Electric Co., its U.S. nuclear unit.