Toshiba shares tumble after sources say third earnings postponement likely

EghtesadOnline: Shares in Toshiba Corp tumbled on Monday after sources told Reuters that the troubled Japanese conglomerate would likely miss a third deadline to report its quarterly business results.

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03 April 2017

Toshiba shares plunged as much as 9.4 percent in early morning trade, before trimming the loss to about 4 percent, compared with a slight gain in the Nikkei index, according to Reuters.

A third postponement of the October-December earnings, currently due on April 11, looks necessary because Toshiba's auditor, PricewaterhouseCoopers Aarata LLC, has questions about results for the business year through March 2016, the sources said.

A Toshiba spokesman said on Monday that the possible postponement was not something the company had announced and that it was preparing to make the earnings announcement by April 11.