For Toshiba Corp. investor Ichio Hosoda, who bet on the ailing electronics conglomerate to provide him with a nest egg after retirement, what is happening to the 142-year-old company is something he cannot and does not want to believe.

When Hosoda, from Nara Prefecture, spent part of his savings on Toshiba shares in May 2015, it seemed like a secure investment that would provide him with a little more leeway to prepare for his future.

But Hosoda, 56, has instead lost nearly ¥1 million from the recent plunge in Toshiba's share price.