Toshiba in Loss of $84 Billion Disclosed after Delay
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Toshiba in Loss of $84 Billion Disclosed after Delay

  shahid nazir

Toshiba had likely lost $8.4 billion in the last ended fiscal year, it was revealed by the conglomerate Toshiba on Monday by further delaying to announce its earnings for the 3rd time.

Westinghouse Electric, US nuclear unit at money losing and in financial misconduct declared by the grapples, a Japan’s firm that is they are in bankruptcy protection. Earlier the loss projected was 1.01 trillion for the year that was ending in March. So comparatively this time is better.

Toshiba in Loss of $84 Billion Disclosed after Delay

Last month Toshiba disclosed unaudited results after delaying 9 month earnings. On Monday, in a news briefing Satoshi Tsunakawa, the President of Toshiba said, “We can’t officially disclose the earnings as they’re still being audited.”

To probe the financial misconduct at Westinghouse by the senior managers, 2015 accounting scandal was a huge dig in the Toshiba’s growth. A whistleblower complaint about 1 or more executive involved and exerting pressure on accounting after which the investigation was launched.

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