Toshiba gets auditors’ signoff, perhaps avoiding delisting

News
800 (16)_275618

TOKYO (AP) — Toshiba Corp. has received a signoff from auditors on its earnings, although it came with some conditions, meaning the embattled Japanese electronics and nuclear company will likely avert delisting.

Tokyo-based Toshiba says it got approval of its last fiscal year’s earnings from PriceWaterhouseCoopers Aarata.

The approval had not come on schedule because of concerns about Toshiba’s money-losing nuclear business in the U.S.

Toshiba’s U.S. nuclear unit, Westinghouse Electric Co., filed for bankruptcy protection in March.

Toshiba is still mired in legal wrangling with joint venture partner Western Digital of the U.S., which is opposing Toshiba’s attempt to sell its computer memory chip business to gain the cash it needs to survive.

Today was the deadline for the auditors’ approval.

Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Copyright 2021 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending Stories

Don't Miss