(Reuters) - Japan's Toshiba Corp (T:6502) said on Monday it had decided there was no need for a writedown on its Westinghouse operations after an accounting scandal raised concerns it was overestimating the value of its U.S. nuclear business.
Toshiba looked into whether it needed to write down the value of Westinghouse's deferred tax assets, or credits that can be used to reduce future tax bills, but its accountants agreed there was none, Chief Executive Masashi Muromachi told reporters.
Toshiba earlier booked a net loss of 37.8 billion yen ($318 million) net loss for the financial year through end-March.