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Cutting Westinghouse loose puts Toshiba in a deeper hole

To climb out, conglomerate needs its chip unit to fetch a high price

Toshiba President Satoshi Tsunakawa explains the Westinghouse bankruptcy filing on March 29.

TOKYO The recent bankruptcy filing by U.S. nuclear unit Westinghouse Electric may have extricated Toshiba from one major mess. Yet it has also put the crisis-battered electronics maker in a deeper financial hole, complicating its turnaround efforts.

Toshiba President Satoshi Tsunakawa on March 29 told reporters that Westinghouse's Chapter 11 filing will take the company out of the nuclear business overseas, "eliminating the biggest risk we face."

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