Balance-Sheet Hole: Toshiba and Sk Hynix

balance-sheet hole: But the clock is ticking for Toshiba, which was still recovering from a 1.3 billion accounting scandal in 2015 when it was hit by billions of dollars of cost overruns at its U.S. nuclear unit Westinghouse in December, according to The Japan Times. Unless it closes a deal by March, a gaping balance-sheet hole will prompt automatic delisting of its shares from Tokyo's stock market further battering its shareholders. Those people say Toshiba's leadership is sticking to plan A selling the world's second-largest memory chip maker to a Japanese government-backed group that also includes Bain Capital. As questions emerge around the role of South Korean rival SK Hynix in the preferred bidder group, some Toshiba executives and officials at the company's main creditor banks say they want top management to look at other options. SK Hynix, which was initially included just to help fund the deal, is now looking to own equity in Toshiba's chip unit, according to sources, raising antitrust and national concerns in Japan. Toshiba hastily picked the consortium ahead of its June 28 annual shareholders meeting, but more and more flaws are emerging as time passes, said a senior official at one of Toshiba's banks. (news.financializer.com). As reported in the news.