Feb 14, 2017
Toshiba shares plunge as it delays crucial earnings report
The BBC understands Toshiba has not been able to agree with its auditors over how big the writedown should be. Toshiba has asked regulators for an extra month before issuing its earnings report - which will include the size of the writedown. Shares fell by as much as 9% on Tuesday and have lost around 50% since late December, when it first warned about the extent of the problems. It has already announced plans to sell off part of its profitable memory chip business to try and shore up its finances. As well as detailing its losses, Toshiba is also widely predicted to announce it is scaling back its global nuclear business - and possibly getting out of the sector all together apart from its operations in Japan.
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