Japanese conglomerate Toshiba may miss reporting deadline
A third postponement looms as auditor, PwC Aarata, has questions about Toshiba’s 2016 results
Tokyo — Toshiba would likely miss a third deadline to report its quarterly business results, two sources said, forcing the Japanese conglomerate to ask for a fresh extension or face a possible delisting from the Tokyo Stock Exchange. A third postponement of the October-December earnings, past the latest deadline of April 11, looked necessary because Toshiba’s auditor, PricewaterhouseCoopers Aarata LLC, had questions about results for the business year through March 2016, said the sources. One of the sources has direct knowledge of the delay and the other was briefed on the matter. Toshiba also might not be able to decide the favoured bidder or group for its semiconductor business by its general shareholder meeting in late June, said another person with direct knowledge of the matter. The Japanese conglomerate, which only recently emerged from a huge accounting scandal, has been dragged down by billions of dollars of cost overruns at its former US nuclear unit, Westinghouse Electric....
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