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RPT-Toshiba files earnings without auditor endorsement
April 11, 2017 / 8:27 AM / 8 months ago

RPT-Toshiba files earnings without auditor endorsement

(Repeats to link to corrected alert)

TOKYO, April 11 (Reuters) - Japan’s Toshiba Corp filed twice-delayed business results on Tuesday without an endorsement from its auditor, increasing the likelihood that the nuclear-to-TVs conglomerate will be delisted.

The filing carried a disclaimer from auditor PricewaterhouseCoopers (PwC) Aarata LLC that it was unable to form an opinion of the results.

The move is unprecedented for a major Tokyo-based firm and will put financial regulators and the Tokyo Stock Exchange centre stage as they weigh whether to accept it, as well as the pros and cons of forcing it to delist.

For the nine months through December, Toshiba, a laptops-to-construction behemoth, reported deeper losses than previously estimated due to writedowns at U.S. nuclear subsidiary Westinghouse Electric Co. (Reporting by Makiko Yamazaki and Taiga Uranaka; Editing by Edwina Gibbs)

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