Toshiba Expects Loss Of $9.2 Billion In Fiscal Year

TOKYO (AP) – Toshiba Corp., whose U.S. nuclear unit Westinghouse Electric Co. has filed for bankruptcy protection, said Tuesday it expects a loss of 1.01 trillion yen ($9.2 billion) for the fiscal year that ended in March.

The company issued unaudited fiscal third-quarter results after having twice delayed reporting them.

In February, the company, whose products include computer chips and household appliances, had forecast a 390 billion yen ($3.5 billion) loss for the fiscal year.

Its auditors, PricewaterhouseCoopers Aarata, said it could not reach a conclusion in its review of the figures because of uncertainties related to the acquisition of U.S. nuclear construction company CB&I Stone and Webster. Toshiba has been in deep trouble since costs at Westinghouse have ballooned.

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 This material may not be published, broadcast, rewritten or redistributed.)

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