Toshiba group issued notification that it may not be able to continue in business
- Toshiba, 142-year-old Japanese global conglomerate on 11 April 2017 warned that it may not be able to continue as a going concern as it is grappling with billions of dollars in losses and also raised speculation of a possible delisting from the Tokyo Stock Exchange
- Company had posted an operating loss of 576.3 billion yen ($5.2 billion) for the nine months ended 31 December 2016. It had earlier missed two previous deadlines for financial results.
- The group has inflicted billions of dollars in losses from its Westinghouse Electric nuclear business, which had filed for bankruptcy in the US last month. The nuclear business write-down has pushed Toshiba’s liabilities beyond its level of assets.