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Toshiba's future imperiled by shaky ethics, nuclear fiascos
Japanese technology giant Toshiba Corp.'s last-gasp strategy for staying afloat — selling its prized computer chip operations — may buy the company time but is no cure-all.
The 140-year-old Japanese energy and electronics colossus will be bereft of its most profitable and promising businesses and still entangled with the nuclear units that brought about its downfall.
Dogged by misfortune and mismanagement, Toshiba, whose roots date to the age of telegraphs and arc lamps in the 1880s, has warned of "substantial doubt about the company's ability to continue as a going concern."
In hindsight, the Tokyo-based company's first big misstep was its 2006 purchase of the U.S. nuclear unit of Westinghouse, which filed for bankruptcy protection last month.
But a massive accounting scandal and accounts from former Toshiba employees suggest more pervasive problems within its management.