Toshiba shares tumble after sources say third earnings postponement likely
Toshiba shares tumble after sources say third earnings postponement likely:- 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.
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.
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.
Source:- http://www.reuters.com/article/us-toshiba-accounting-idUSKBN175049
