You are using an older browser version. Please use a supported version for the best MSN experience.

Toshiba releases unaudited earnings

dpa logodpa 11/04/2017

Toshiba, whose US nuclear unit Westinghouse has filed for bankruptcy protection, has reported unaudited earnings and posted a net loss of $7.8 billion.

Troubled Japanese electronics and nuclear giant Toshiba has finally reported its earnings for the October-to-December period but without auditor approval and only after postponing the release twice.

Toshiba posted a net loss of 647.8 billion yen ($A7.8 billion) in the quarter due to huge losses from its US nuclear power business.

Toshiba also booked an operating loss of 673.1 billion yen for the quarter, compared with an operating loss of 142.8 billion yen in the same period the year before.

Sales were down 3.9 per cent from a year earlier to 1.27 trillion yen, the company said.

The company also reported a negative net worth of 225.7 billion yen as of the end of the December.

In late March, Toshiba's nuclear power unit, Westinghouse Electric, filed for Chapter 11 bankruptcy in the US.

The company acquired Westinghouse in 2006, placing more importance on its nuclear power business.

Toshiba warned the loss for the previous fiscal year ending March 31 could balloon to one trillion yen because of costs related to the bankruptcy filing, up from a net loss of 390 billion yen estimated in February.

Toshiba said in February that it would lose an estimated 712.5 billion yen in the US nuclear power business due to project delays and cost overruns.

The results led company chairman Shigenori Shiga to step down.

image beaconimage beaconimage beacon