The disclosure came as the Japanese company reported earnings for the third quarter after missing two previous deadlines for financial results. Toshiba posted an operating loss of 576.3 billion yen ($5.2 billion) for the nine months ended Dec 31 and said it had negative shareholders equity of 225.6 billion yen, but, significantly, it wasn’t able to get auditor PricewaterhouseCoopers Aarata to approve those figures. Toshiba has been at odds with its auditors over Westinghouse, which filed for bankruptcy in the US last month. Toshiba’s inability to report earnings has also raised speculation of a possible delisting from the Tokyo Stock Exchange. If the company can’t reverse the situation in the fiscal year just ended, it could face demotion to the second section of the Tokyo Stock Exchange.

Source: Bangkok Post April 11, 2017 13:07 UTC