Toshiba Faces Delisting Risk After Missing Earnings Deadline
Westinghouse May Weigh on Toshiba Results
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Toshiba Corp. will miss its second deadline to report third-quarter earnings, delivering another blow to investor confidence and moving a step closer to being delisted from the Tokyo Stock Exchange.
The company applied for an extension until April 11, citing the need for more time to complete an auditor review of the results for the period ended Dec. 31, it said in a statement Tuesday. If the application is rejected, the company has an eight-day period until March 27 to submit earnings to the TSE or face delisting. Toshiba shares fell as much as 8.8 percent during morning trading, the biggest intraday drop in almost three weeks.