|
Independent investigators concluded last month the company had
overstated profits by around 152 billion yen in the past few
years.
The impairment charges include a more conservative estimate of
Toshiba's Westinghouse nuclear business and reflect weakness in
its semiconductor and appliances units, the Nikkei said, without
citing sources.
It said the financial results were not yet finalised as
Toshiba's accountants were still reviewing them but that
operating profit for the year through March was probably around
150-200 billion yen rather than the 330 billion yen the company
had forecast.
Toshiba declined to comment on the report.
It had delayed the announcement of results for the year that
ended in March pending the investigation.
Investors have long been concerned that the value of assets and
goodwill related to Toshiba's 87 percent stake in Westinghouse
was overstated.
Toshiba spent $5.4 billion for a majority stake in 2006 at the
height of the nuclear industry boom. It is now looking to reduce
its stake in the business, although analysts say it could be
hard to find a buyer.
Most expect any sale to be worth just a fraction of what Toshiba
paid as nuclear power has become less popular in the aftermath
of the Fukushima disaster, which prompted many countries to
freeze nuclear energy expansion plans.
(Reporting by Tokyo Newsroom; Editing by Alan Raybould)
[© 2015 Thomson Reuters. All rights
reserved.] Copyright 2015 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed. |
