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The situation has led some analysts to warn the company's future is at risk. Karishma Vaswani: Why is corporate Japan in such a mess? Mr Shiga was stepping down "to take management responsibility for the loss", the firm said. Chip deal The losses are linked to a deal done by its US subsidiary, Westinghouse Electric, when it bought a nuclear construction and services business from Chicago Bridge & Iron in 2015. Assets that it took on are likely to be worth less than initially thought and there is also a dispute about payments that are due. It has already announced plans to sell off part of its profitable memory chip business to raise funds. It is the second largest chip maker in the world, behind Samsung. The company is still struggling to recover after it emerged in 2015 that profits had been overstated for seven years, prompting the chief executive to resign. UK plant in limbo Toshiba has a 60% stake in NuGen, a joint venture with France's Engie, which has the contract to build a new nuclear power plant in Cumbria in the UK. It is estimated that the Moorside plant will eventually provide as much as 7% of the UK's energy needs.