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Where did Toshiba go wrong, and where does it go now?

Options for survival look likely to gut the Japanese electronics giant

Pressure to complete two projects, including the Vogtle nuclear plant in Georgia, U.S., led to Westinghouse's rushed purchase of CB&I Stone & Webster, whose massive losses are now weighing on Toshiba.   © Getty Images

TOKYO Toshiba is on the brink of disintegration.

One of Japan's leading electronics makers, the company failed what should have been a routine task: release its April-December earnings as scheduled in February. That was just the tip of the iceberg. Later, Toshiba announced an impairment loss of more than 700 billion yen ($6.2 billion) on its nuclear power business, primarily from U.S. unit Westinghouse Electric, and that its liabilities exceeded its assets by 191.2 billion yen as of the end of December.

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