Toshiba Books 2014 Loss on Charges, Restates Previous Profit
- 9 years ago
Toshiba Corp. posted an annual loss and restated earnings for the previous six years as it tries to recover from an accounting scandal that led to the ouster of its president and two predecessors.
Shares rose.
The net loss was 37.8 billion yen in the 12 months ended March, compared with revised net income of 60.2 billion yen a year earlier.
The Tokyo-based company didn't issue dividend or earnings forecasts for the current year.
Adjustments wiped out net income from businesses that span nuclear reactors, computer memory chips and laptop computers.
The company has revamped its board, apologized to investors and appointed a special committee to try to win back trust and prevent further irregularities.
Shares rose.
The net loss was 37.8 billion yen in the 12 months ended March, compared with revised net income of 60.2 billion yen a year earlier.
The Tokyo-based company didn't issue dividend or earnings forecasts for the current year.
Adjustments wiped out net income from businesses that span nuclear reactors, computer memory chips and laptop computers.
The company has revamped its board, apologized to investors and appointed a special committee to try to win back trust and prevent further irregularities.