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Toshiba says it may not survive financial problems

Staff Writer |
Toshiba warned there is "substantial doubt" about its ability to survive financial losses.

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This is mainly stemming from losses in its Westinghouse Electric nuclear business.

"Toshiba has done everything in its power to gain the understanding of the auditors," chief executive officer Satoshi Tsunakawa said at a briefing with reporters in Tokyo.

"Without clear prospects for auditor approval, we could no longer inconvenience and worry our investors and other stakeholders and decided on this very unusual way of releasing results."

If Japanese regulators don't accept Toshiba's earnings report, Toshiba could be delisted from the Tokyo Stock Exchange.


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