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.

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