joining us at the business desk. >> filed for chapter 11 bankruptcy, cutting losses from u.s. unit as it tries to rebuild its finances. the company president says the bankruptcy filing is the first step in restoring its health. toshiba says it can post a net loss of $9 billion fiscal year. that would be the biggest ever for japanese manufacturer. >> we believe the removal of westinghouse from toshiba's consolidated earnings is in line with the company's policy of avoiding risk from the nuclear business abroad westinghouse has faced ballooning costs to meet upgraded safety standards at four reactors it's building in the u.s. the subsidiary received orders for the reactors in 2008. earlier toshiba projected losses
from westinghouse to reach at least $6 billion for the current fiscal year. toshiba executives say they will remove westinghouse from their consolidated financial statements and they intend to withdraw from the u.s. nuclear business entirely. joining us in the studio, we just heard officially they are pulling out from the nuclear business in the u.s. won again, how did it end up this way? >> the company's purchase of westinghouse was beginning of end for toshiba's u.s. business. they made the wrong bets a clear renaissance which never materialized. the company failed to properly manage westinghouse was another major factor. westinghouse has a long history in the nuclear business, longer than that of toshiba. not that it didn't change much after it was bought by the japanese firm. executives at toshiba sensed they were not able to get a grip
on the u.s. subsidiary. there were other problems to solve. a toshiba along with westinghouse ongoing projects in europe and china. that is a challenge going forward. >> when we're listening to the ceo speak, he was talking about a hot lot of numbers and how he going to revitalize the business. it's obviously not an easy road ahead. what lies in front of them in terms of challenges. >> executives revealed westinghouse filing for chapter 11 will result in a loss of $9 billion. the company tried to makeup for the loss by selling conductor business but their choices may be limited. several overseas companies are showing interest in the bidding but japanese government plans tore foreign buyers due to national security concerns. and it may be difficult to find a buyer that can offer enough money for toshiba to cover those losses. the japanese manufacturer be used to be compared to general
electric, appliances and other electronic prices to infrastructure system and energy. more than 150,000 employees worldwide. but they have already sold their home appliances and machine unit and now release the semiconductor business as well. the question is what do they have left, how do they get back on their feet? toshiba will have a lot of explaining to do as they are expected to hold a shareholders meeting on thursday. >> reiko thanks. some investors hoped a bankruptcy filing would help struggling giant. meanwhile overall share prices flat. details our business reporter has more from the tokyo stock exchange. >> stocks here languished in negative territory for much of the day despite a higher finish on wall street and weeker yen.
>> nikkei at 19,217. prodder top ix fell .2. fell as traders monitored the rehabilitation efforts. it ended up 1%. another winner kansai electric hour jumped 8% after an appeals court allowed for the restart of two nuclear reactors in central japan. switching to currency markets, the dollar jumped overnight about 111 yen level. the currency was boosted by a surge in u.s. consumer confidence in march which hit a more than 16-year high. recent u.s. economic data has been strong but many uncertainties remain for investors including the outcome of brexit negotiations. i'm giang nguyen reporting from new york tokyo stock exchange.
moving to other markets, some bench marks supported by strong u.s. data. singapore gains .85 to hit a 1 1/2 year high. shanghai fell over tightening liquidity in the market. shares in thailand inched downward by a fraction, 1574. the closing number. central bank unchanged as widely expected. 5873 the closing number. rising oil and commodity prices boosted the benchmark to a two-year high. major banks ended higher. you can watch our report online together with a full transcript look for nhk and business wrap. that's a look at business. i'm going to leave you with the market.
some disturbing signs from north korea. u.s. researchers have detected activity that suggests preparations are well under way for a sixth nuclear test. experts at johns hopkins university r released satellite imimages on n saturday. the nuclear test site lies 600 kilometers northeast of pyongyang. the researcherbelilieve that communication cacables havave b laid on the ground. they would be used to initiate the test and collect data. the report says water is also being pumped out in order to keep the area dry. but the researchers say there's no definitive evidence that a
test is imminent and that pyongyang is capable of deception. separately, they also report on continued activity at another nuclear facility. experts believe pyongyang recently restarted plutonium production there for nuclear weapons. north korea conducted its last nuclear test in september. britain will give notice on its intention to leave the eu. the negotiations for the withdrawawal arere expecteted t the toughest in the regional bloc's history. the brexit process will start when britain's prime minister sends a letter to the president of the european council. donald tusk will then deliver graft negotiating deadlines with other members within 48 hours. britain decided to leave eu in a referendum last june. they plan to secure e equal treatmenent after leaving. eu officials are expected to
take a tough stance to prevent other members from following in footsteps. the negotiations could end as early as may. they will be concluded within two years. a survivor of the 1945 atomic bombing of hiroshima addressed delegates of an anti-nuclear conference at the u.n. she called on them to back a treaty outlawing nuclear weapons and criticized the japanese government for not supporting their effort. thurlow spoke to representatives from more than 100 countries on tuesday. thurlow was s 13 years old when her city was destroyed. she was less than two kilometers from ground zero. she condemned japan's decision not to t take part in the negotiations and its recent comments about that. >> the japanese government
official speech deepened hibakshas' feeling of being continuously betrayed and abandoned by their own country. >> thurlow also spoke about the death of her 4-year-old nephew in the bombing. she said the heat from the blast burned the boy beyond recognition and that he died crying out for water. she called on n the delegates t declare that nuclear weapons are immoral and must be outlawed. >> i think this is how many survivors have kept on living. to make sure that the death of their loved ones were not in vain. >> the chair of the conference said the delegates will work hard to ensure that nuclear weapons are never used again. officials in beijing say they have detained a former member of taiwan's ruling party
for alleged involvement in activities that threaten national security. taiwanese officials have been asking beigeing to reveal the man's where abouts. > translatotor: the man has under investigation for threatening activity to national security. >> officials in beijing didn't specify the activities. the former member of the ruling progressive party in his 40s remains missing since he traveled from macau to guangdong china on march 14th. a human rights group in taiwan says the maybe follows human rights issues in mainlnld chini. china has halted dialogue with taiwan because of the president's refusal to acknowledge the one china principle. former president park geun-hye will attend a court hearing thursday to decide whether she should be arrested over a major corruption scandadal. parkrk is likelyo denyy all allelegations includingng her
collllusion with longtime frien to extort tens of billions in bribes from conglomerates. prosecutors asked the court to issue arrest warrant monday saying park could destroy evidence if she's not in custody. a small conservative party in south korea has chosen a candidate to run if the upcoming presidential election. >> translator: the conservatives are the only ones who can protect this country. >> the bareun party selected yahoyoo seong-min. when the corruption scandal group yoo and dozens of others left the party and formed a splinter group. yoo is riding low in the polls. the focus is whether he can convince his former party to choose him as a unified candidate. the conservatives may be in for
a tough against the liberal presidential front-runner of the democratic party. he's been well ahead in the polls and won a sweeping victory in his party's first primary on monday. yoo has criticized moon's views on national security and north korea as very dangerous. he also says his opponent would cause an economic crisis while in office. the presidential election will take place on may 9th. people in macau are on an economic roller coaster ride. the city has become the world's largest casino center since portugal transferred sovereignty back to china nearly 20 years ago. but not everyone is enjoying the benefits. nhk reports. >> reporter: gamblers from across the globe come through this sea port to fulfill their dreams and desires. macau's gambling revenue outstrips las vegas thanks largely to high rollers from mainland china. but the number of big spenders
is dwindling because of anti-corruption campaigning by president xi jinping. revenue is down, dealing a heavy blow. authorities have turned their sights to family friendly tourism. they are promoting a range of attractions as casinos market themselves as integrated resorts. this hotel ferris wheel is shaped in the figure eight, a lucky number in chinese culture. macau welcomed 20 million visitors from the mainland last year. businesses that cater to tourists are flourishing, like this almond cookie shop. the family run enterprise is more than 80 years old. it has expanded to open a dozen local branches.
>> i think not many people expect such big changes in macau. >> reporter: the company boasts 300 products in its snack lineup matches chinese people's tastes. it also exports overseas. >> china customers, they like spicy, very spicy flavors. >> reporter: business may be good for some, but rapid development has left some behind. lai kit mui used to sell oriental medicines to local residents. rents are surging. lao had to shut her century-old pharmacy and move out. lau says shops that service locals are quickly disappearing.
many landlords prefer tenants in tourism-related businesses that pay higher returns. >> translator: our neighbors say we're losing our bond. old stores like ours will get wiped out in the competition. >> reporter: this city has b be its s future on the gambling an tourism dollar. traditional neighborhoods are under threat as they try to hang on in the shadows of the neon lights. nhk world, macau. police in japan want to charge an aircraft maintenance company with breaking civil aviation laws nearly two years
after a small airplane crashed into houses in tokyo. the city's metropolitan police department has referred the president of nippon aero tech and two others to prprecutors. the light aircraft smashed into homes in 2015 killing three people including the pilot and a local resident. authorities say the flight had been logged as a training exercise for the pilot, but police say it was in fact an illegal charter flight carrying passengers to an island about 100 kilometers away. at the airport the plalane took off from, private planes are only approved to undertake training flights. police say nippon aerotech had been operating charter flights without legal approval. yap niece authorities say high school students and teachers hit by an avalanche
were not carrying radio beacons. police are investigating the incident on suspicion of professional negligence. 48 students and teachers from multiple high schools were hit by the avalanche near a ski resort north of tokyo. they were doing mountaineering training. seven students and one teacher were killed. the rest of the group suffered injuries. a rescuer says the teachers didn't understand the risk they were taking. >> translator: no one had a beacon, and they took students upup a snowy mountain. it's the worst thing you could do. >> the beacons transmit a signal indicating its location if the user is buried in snow. as weather conditions worsened, the teachers leading the event dropped the original plan to climb the mountain but decided instead to have students practice wading through deep snow up a slope. spring is the time for annual wage negotiations here in japan. the government has been telling corporate executives to raise
salaries to give people more money to spend. but many of the large firms have already decided that their pay hikes will be smaller this year. as nhk world reports, small and medium-sized firms are also feeling the pinch. >> reporter: thihis man is stil undecided. he's president of an industrial robot manufacturer. he hasn't given his employees a pay raise for the past three years, so he thinks he should do it this year, but he has reservations. the rising cost of materials is one of the main issues. stainless steel and aluminum prices are up. >> translator: this product now costs about $800 more to make. but we can't expect our customers to pay that much more. >> reporter: adding to his problems are buyers demanding a cut in prices by up to 10% each yeyear. d he says the larger customers are stepping up the pressure.
he acknowledges that his people work hard, but he thinks a significant rise in wages is not in the cards. >> translator: our sales are up, but profits are flat. higher pay resulting in higher labor costs will be very tough on the company. >> reporter: the owner of this traditional sweet shop chain does not intend to raise wages this year. the business is healthy, but it can't boost sales to pay for the higher wages. because it doesn't have enough workers to do that. the shop always has a line-up at tourist locations like asakusa, and they're always short-staffed. they're also running the factory without enough people. they wash and cut sweet potatoes by hand. the company has a hard time finding people who want to work there. the president of this company says the labor shortage forced the chain to close one of its stores two y years ago.
>> translator: some department stores have been inviting us to set up shops, but there's just not enough people. >> reporter: saito acknowledges that r raising wagages would he him attrtract more workers, bute says he needs to sell more to pay for that. it's a dilemma. >> translator: the only way to get out of this bind is to raise prices, but we'll lose customers if we do that. that's why i can't hike wages. >> reporter: one economist says companies need to find ways to improve efficiency to make wage hikes possible. >> translator: companies need to increase capital spending and invest in technology to improve productivity and solve labor shortage. the government needs to come up with measures to help them do this. >> reporter: the result of wage negotiations for small and mid-size companies will be out next week. if wage rises fail to pick up the pace, this may be a signal that more government measures are needed to move the economy forward.
nahoko yamada, nhk world, tokyo. nhk "newsline" comes to you live from tokyo. time for weather with jonathan oh who starts off with australia. jonathan. >> hello, looks like we will be looking at rain and some windy conditions as we go through thursday and friday, but it should be tapering off in its ferocity as we go forward in time. over the past 48 hours, you may notice how well the system continues to keep itself together even though it's no longer considered a tropical cyclone. the low pressure area continues to slowly move to the south, which means the areas from ma
mack -- maki southward continue to be impacted with tremendous amounts of rainfall. we are seeing the rain tapering off, but that's only compounding what's already fallen in the region. take a look at this video. it will give you an idea of the situation, the damage that's been left behind after debbie moved into the area. it did make landfall shortly after midday tuesday. thousands of people had to flee their homes monday. it was the biggest evacuation seen in australia since cyclone tracy devastated darwin on christmas day in 1974. two people were injured with one serious head injury after being hit by a falling wall. more than n 51,000 homes were without power because of the storm. as we continue on forward, we will continue to see some of the heavier precipitation amounts south of mackay as we have this northerly fl m moving ininto th low pressure system. be on e e lookutut for this precipitation to continue and eventually it will movove down toward the s south a incncrease the rain amounts near brisbane. so it wiwill continue to bng
precipitation as we go through the restst of the work wee but it looks likike that most o the rain will develop along the coastal areas down south near nenew south wales. up to the north things start to dry out as we go into friday. meanwhile we go over into japan and we have been dealing with a relatively calm patch. we did have a low pressure system that developed south of the korean peninsula. it is now slowly pushing toward the east. it is going to skirt along the pacific c side of japan ase gog througutut theayay thursday. ththat will bring some rain to kyushu, some increased cloud cover from time t time i it slowly moves towoward the east. as we go into the weekend, we are looking at an increased chance for some rainfall into places like tokyo. look at this, almost as if it's slapping you in the face in terms of how cold it's going to be relatively speaking. 15 on friday. on saturday 7 for the high with rain. then we'll rebound back to 15 on sunday in tokyo. for those of you who are thinking about looking at cherry blossoms, probably not the best day on saturday. rain into nagoya from friday and saturday.
kumamoto, we'll see that rain continuing thursday into friday. even toward naha, we're looking at rain as we head toward the weekend. meanwhile, as we look at what's happening over north america, we have this vigorous low-pressure system that is crawling across texas. and that's bringing severe thunderstorms and very heavy rainfall, also tornado concerns as well. we go through wednesday. that concern also includes areas into portions of missouri and into arkansas. we go into thursday, since it is a slow-moving system, the severe thunderstorm area includes the same areas and then justlaceces slight t toward ththe east. so be on the lookout for v very unstable weather as we go throughout the day on wednesday. thunderstorms from oklahoma city into atlanta. hope you have a good day wherever you are. here is your extended outlook.
here on nhk "newsline" we now show you how some kids got front row seat to a show that featured dumptrucks and power shovels in action. about 170 children and their parents gathered just outside of tokyo for the annual show on tuesday. bulldozers and dump trucks wowed the audience with their moves. >> translator: it was fun. >> translator: the vehicles are huge. i'm glad that the kids had a lot of fun. >> children also had the chance