TOKYO — Toshiba, whose U.S. nuclear unit Westinghouse has filed for bankruptcy protection, is reporting a 950 billion yen ($8.4 billion) net loss for the fiscal year ended March.
The Japanese electronics giant's results have failed to win auditors' approval from the previous quarter, after questions were raised over the acquisition of U.S. nuclear construction company CB&I Stone and Webster.
Tokyo-based Toshiba Corp. called the results released Monday as projections, rather than results, since they lack the company's auditors' approval, but it was in line with what it had said recently.
The loss was about double the 460 billion yen ($4.1 billion) loss racked up the previous fiscal year.
Toshiba, whose products include computer chips and household appliances, acquired Westinghouse in 2006. Its president, Satoshi Tsunakawa, has recently said the strategy based on Westinghouse was a mistake, and has promised it won't take on new nuclear projects. read the rest here