Toshiba delays earnings report on troubled US nuclear unit

March 14, 2017 - 1:41 am

TOKYO (AP) — Troubled Japanese nuclear and electronics company Toshiba Corp. has won approval for a second delay in reporting its earnings for October-December and has promised to review its money-losing Westinghouse operations in the U.S.

Toshiba had been scheduled to report earnings Tuesday, after delaying the report due in February because of auditing problems. It now has until April 11 to produce the report.

Toshiba is expecting a group net loss of 500 billion yen ($4.3 billion) for April-December last year, including the 712.5 billion yen ($6.2 billion) hit from its embattled nuclear business.

Toshiba's chairman has resigned to take responsibility for the company's troubles. President Satoshi Tsunakawa is giving a news conference later in the day to explain the delay.

The company also has been embroiled in an accounting scandal.

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