“There are events and circumstances that may bring about significant questions about the idea of carrying on as a going concern,” Toshiba said in a Japanese statement accompanying its unaudited figures.
Toshiba posted a group net loss of ¥532.51billion (R66.31 billion) and a group operating loss of ¥576.28 billion, on sales of ¥3.85 trillion during the nine-months to December. The net loss compares to previous estimates of ¥499bn and ¥479.44bn posted at the same time a year earlier.
The larger-than-expected losses follow Toshiba twice postponing the release of its financial figures since February.
The multinational conglomerate’s auditor PricewaterhouseCoopers Aarata did not endorse the April-December earnings owing to differing opinions regarding Toshiba’s trouble-hit US nuclear subsidiary Westinghouse.
Accounting irregularities at Westinghouse were the reason Toshiba twice postponed the release of its earnings.
At the end of last month Toshiba approved a Chapter 11 bankruptcy filing in the US by its embattled Westinghouse Electric unit.
XINHUA AND REUTERS