POST Online Media Lite Edition


Toshiba delays results again, warns of $8.4bn net loss

Staff Writer |
Toshiba on Monday delayed its earnings for a third time since January, but warned it likely lost 950 billion yen ($8.4 billion) in the just-ended fiscal year, with fears growing about its survival.

Article continues below

Toshiba twice postponed nine-month earnings before it released unaudited results last month.

Monday's warning - largely linked to the bloodletting at Westinghouse - was, however, slightly better than an earlier projected net loss of 1.01 trillion yen for the year ended in March.

"We can't officially disclose the earnings as they're still being audited," Toshiba president Satoshi Tsunakawa told a news briefing in Tokyo Monday.

Toshiba - still recovering from a 2015 accounting scandal - has said it needed more time to probe claims of financial misconduct by senior managers at Westinghouse and to gauge the impact on its finances.

What to read next

Toshiba revises earnings, plans to cut capital base in half
Toshiba found 7 new accounting errors and $50 million
Toshiba Q2 operating profit up 76 percent