15 minutes agoToshiba marks billions of losses
Periskopi(9 years ago)
(9 years ago)The renowned Japanese conglomerate” Toshiba” has marked a net loss of 965.7 billion or $8.8 billion in last year's financial mirror. The 142-year-old company is likely to be excluded from the Tokyo Stock Exchange (TSE), as delayed financial results were partially approved by the audit company “PicterhouseCoopers Awarda” (PCA). However, PCA has [...]
The 142-year-old company is likely to be excluded from the Tokyo Stock Exchange (TSE), as delayed financial results were partially approved by the audit company “PicterhouseCoopers Awarda” (PCA).
However, The PCA has issued an adverse opinion about the internal controls of” Toshiba”, as the company has suffered massive losses related to the American nuclear power utility “Westinghouse Electric”, currently dysfunctional.
Also, in March, ” Toshiba” reported a negative net value of 552.9 billion yen.
” Toshiba”, which is still facing fears that it might be excluded from TSE, is trying to sell its lucrative unit to collect money.
The company will be unregistered from the Tokyo Stock Exchange if it reports a negative net value for the second year.
