May 15, 2017

Troubled Toshiba misses annual results deadline

Toshiba has missed a deadline to file its annual results, but warned it was likely to report a loss of 950bn yen. Jun 2015: Toshiba is found to have inflated its financial results by $1.2bn over the previous seven years. Jan 2017: Toshiba says the unit that makes memory chips for smartphones and computers - NAND - will be split off so it can sell a slice to raise funds. Apr 2017: Toshiba finally puts out its Q3 results, without the stamp of approval from its auditors, with a warning that its future may be in jeopardy. May 2017: The firm misses a deadline to publish results for the year to March 2017 but estimates losses will be 950 billion yen.

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