Tuesday 6 December 2016

Toshiba posts €80m loss after accounting scandal

Ritsuko Ando

Published 14/09/2015 | 07:59

A man walks past a logo of Toshiba Corp at an electronics store in Tokyo July 21, 2015. REUTERS/Thomas Peter
A man walks past a logo of Toshiba Corp at an electronics store in Tokyo July 21, 2015. REUTERS/Thomas Peter

Toshiba swung to a first-quarter operating loss on weak PC and TV sales, raising pressure on its new chief executive, who is already tasked with improving governance after a $1.3bn accounting scandal.

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Toshiba reported an April-June operating loss of 10.96bn yen (about €80m) compared with a 47.7bn yen profit a year earlier, according to a filing on Monday.

The announcement came a week after it reported a 37.8 billion yen net loss for the year through last March to reflect more costs and conservative estimates on operations, including the South Texas Project, a U.S. power plant project.

It also said it had overstated profits going back to fiscal 2008/09 by 155 billion yen.

Reuters

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