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Troubled Toshiba delays earnings again

Tuesday, March 14, 2017 - 01:05

Japan's Toshiba Corp fails to submit audited third-quarter earnings for a second time, gaining a one month extension as its expands a probe into problems at its U.S. nuclear unit Westinghouse. Laura Frykberg reports.

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It's twice now That troubled Toshiba has put off publishing its earnings. The Japanese company says it needs more time To probe problems at its U.S. nuclear unit, Westinghouse. Toshiba's revealed that some managers there Put QUOTE 'inappropriate pressure' on accounting in the third-quarter For a nuclear power plant construction company - it bought in 2015. It could have happened in the preceding quarters - says the company. And it's now looking to get rid of it. (SOUNDBITE) (Japanese) TOSHIBA CORP CEO, SATOSHI TSUNAKAWA, SAYING: "We'll aggressively consider strategic options in order to fundamentally re-examine the position of Westinghouse in our business portfolio." It's the second crisis to hit Toshiba in recent years. The company was found to have inflated earnings in 2015. It has just under a month left to release its latest earnings. If it doesn't and fails to gain an extension. It has till the end of April, or it could be de-listed.

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Troubled Toshiba delays earnings again

Tuesday, March 14, 2017 - 01:05