Toshiba Reports $8.4 Billion Loss for Fiscal Year
Japan Today reports:
Toshiba Corp, whose U.S. nuclear unit Westinghouse has filed for bankruptcy protection, is reporting a 950 billion yen ($8.4 billion) net loss for the fiscal year ended March (31, 2017).
The Japanese electronics giant’s results have failed to win auditors’ approval from the previous quarter, after questions were raised over the acquisition of U.S. nuclear construction company CB&I Stone and Webster.
Tokyo-based Toshiba called the results released Monday as projections, rather than results, as they had not gotten auditors’ approval, but it was in line with what it had said recently.
The loss was about double the 460 billion yen ($4.1 billion) loss racked up the previous fiscal year.
- May 2017: Report: Toshiba Corp May be Considering Bankruptcy
- March 2017: Toshiba Splitting Off Four of its Companies into Wholly Owned Subsidiaries
- February 2017: Toshiba America Business Solutions Seeks to Reassure Customers, Partners Amid Toshiba Financial Difficulties
- February 2017: Canon Acquiring Toshiba Medical Finance in Bid to Grow its Medical-Equipment Business
- February 2017: The Week in Imaging: Toshiba Nuclear Woes & Toshiba Tec; Ricoh Product Refresh; More
- February 2017: Toshiba Delays Financial Report, Chairman Steps Down Over Losses in Nuclear Business
- February 2017: Toshiba May be Considering Selling Toshiba Tec
- August 2015: Toshiba TEC: TABS is Independent Operating Company, Not Involved with Toshiba Corp. Accounting Troubles