Toshiba asks creditors not to call in loans

TOKYO: Toshiba Corp met creditors on Tuesday and asked them not to use provisions in debt agreements to call in their loans early, giving the troubled company time to work out a turnaround plan, sources with knowledge of the matter said.
It was the first such meeting since the conglomerate, which is still recovering from a $1.3 billion accounting scandal, shocked investors last month by announcing cost overruns at a US nuclear business bought in 2015 which could now mean a charge against profit topping $4 billion. About 80 creditors, including regional banks and life insurance companies, attended the meeting, said the sources, who declined to be identified. — Reuters