Toshiba Forecasts $1 Billion Loss

Toshiba has announced a forecast net loss of $970 million due to the tax impact of selling its memory chip business, which was itself sold to make up for losses incurred from its nuclear energy business. ZDNet reports:
The loss will come instead of its previously forecast net profit of 230 billion yen due to taxes incurred during the sale of the chip business, although its revenue forecast remains unchanged, Reuters reported.
http://www.zdnet.com/article/toshiba-forecasts-1-billion-loss-report/
https://www.reuters.com/article/us-toshiba-accounting/toshiba-sees-annual-loss-of-almost-1-billion-after-tax-related-to-chip-unit-sale-idUSKBN1CS0QA