Toshiba files twice-delayed earnings report

Tokyo April 11 (IANS) Toshiba Corp. on Tuesday reported its twice-delayed earnings report for the nine months through December that were filed without the endorsement from its auditor.

Toshiba reported a group net loss of 552.41 billion yen ($5 billion) due to losses related to hefty writedowns incurred by its US nuclear subsidiary Westinghouse Electric Co Xinhua news agency reported.

On sales of 576.28 billion yen Toshiba posted a group operating loss of 3.85 trillion yen during the April-December period.

At the end of March the multinational corporation approved a Chapter 11 bankruptcy filing in the US by its embattled Westinghouse Electric unit with the conglomerate saying it faced a possible 712.5 billion yen writedown on its failing nuclear energy business and a related group net loss of more than 1 trillion yen.

Toshiba s shares were placed on a securities on alert watchlist by the Tokyo Stock Exchange in September 2015 following an accounting scandal which had initially dented the company s reputation.

The filing on Tuesday without the approval of an auditor has yet to be accepted by regulators or the Tokyo bourse and could see the Tokyo-based firm delisted.

--IANS
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