Toshiba once again postpones publication of its financial results | RetailDetail

Toshiba once again postpones publication of its financial results

Toshiba once again postpones publication of its financial results

Japanese group Toshiba has once again postponed the publication of its financial results related to the fiscal year 2014-2015, which ended on 31 March 2015. The company has not yet revealed the numbers because of an accounting scandal.

First loss in 5 years

The Japanese company would have normally published its results 3 months ago, but a major accounting scandal was revealed at that time which led to a multi-billion yen fine and the CEO and half of the board being fired. In the aftermath of that scandal, Toshiba was forced to alter its accounting from 2008 all the way to 2014.

 

Those revised and corrected numbers should have been published yesterday, but the company has now informed everyone that it would need another week to fix a dozen or so irregularities it had encountered. The new CEO, Masashi Muromachi, refused to state the sum, except for the fact that it was "not that much".

 

Mid-August, the company informed that it would experience a loss for the first time in 5 years. Yearly turnover should reach 6,600 billion yen, some 49.3 billion euro, and the exact numbers should be revealed on 7 September.

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