Hopefully a company will buy the consumer electronics division.
TOKYO-- Toshiba Corp. on Tuesday expressed doubt for the first time over whether it can continue as a going concern, citing huge losses at its U.S. nuclear subsidiary after the subsidiary's bankruptcy filing last month.
The company issued the warning alongside its earnings for the December quarter. It released the earnings after two delays, but it had to do so without the approval of its auditor.
In the earnings report, Toshiba reiterated that it anticipates a net loss of Yen1.01 trillion ($9.1 billion) for the fiscal year ended March 31, 2017.
The loss stems from loan guarantees and other obligations related to nuclear-reactor projects by Toshiba subsidiary Westinghouse Electric Co. in the U.S. The projects have seen huge cost overruns.