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Toshiba delays earnings release again www3.nhk.or.jp
Toshiba Corporation is delaying the release of its financial results again.
The conglomerate last month delayed the February 14th release of its earnings results for the April to December period. It said it needed to examine alleged inappropriate pressure on its US nuclear unit, Westinghouse, which is the main cause of the huge losses Toshiba suffered.
Toshiba has decided to undertake another delay after its auditing firm pointed out that it should examine when it found out about the risk of the losses.
According to people familiar with the matter, the auditing firm says the investigation may take around one month. If the Kanto Local Finance Bureau approves another delay, a new deadline will be set.
Toshiba President, Satoshi Tsunakawa plans to hold a news conference on Tuesday to explain the delay.
Attention is also focused on what he might say about a review of the company's nuclear business.
Toshiba has been studying the possibility of filing for Chapter 11 and withdrawing from its nuclear business in the United States as one of the options.
Published Date:2017-03-14
