However Toshiba shares did very well in 2016 riding 70% in the year up to Dec 26.

But Toshiba’ solvency is now being questioned and banks which have lent to Toshiba are seeing falls in their shares.

Last year, Toshiba struggled with a seven year-long $1.3 billion over-statement of profits, but it was seen to be getting over that with disposals, principally the $6 billion sale of its medical business.

This year, its problem is the disastrous purchase of a US nuclear business.

Toshiba says it won’t reveal until February how heavy its exposure to losses will be following the purchase.

In the meantime, analysts, credit rating agencies and investors are fearing a disaster for which the worst case scenario is insolvency.

China must see this as a golden opportunity to get its hands on top-class NAND assets.