Toshiba files results without auditor backing, delisting still on the cards
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Toshiba remains at risk of being delisted after the conglomerate today filed its twice-delayed results without the backing of its auditor.

The filing lodged with the Tokyo Stock Exchange said that Toshiba's auditor PricewaterhouseCoopers (PwC) Aarata LLC was unable to form an opinion on the results.

The bourse must now decide whether or not to delist the company and exacerbate the crisis already unfolding at Toshiba.

Private equity firm and US chipmaker offer almost $18b for Toshiba's flash memory business

The Tokyo Stock Exchange put Toshiba on its supervision list since last March after it failing to clear up concerns about its internal controls in the wake of its 2015 accounting scandal.

Toshiba's troubled Westinghouse nuclear business is at the centre of the company's problems and its dispute with PwC.

Westinghouse files for bankruptcy

The Japanese firm has estimated that it will need to write off at least $9 billion due to cost overruns at four nuclear reactors under construction in the US.

The losses have caused Westinghouse to file for bankruptcy in the US and forced Toshiba to put its highly profitable chip-making business up for sale.

Toshiba executives will hold a press conference later today.

Reuters

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