Toshiba to seek extension on financial filing Friday

23 Jun, 2017 8:52 am

TOKYO – Toshiba Corp plans to ask regulators for an extension for filing its annual financial statement on Friday, the Yomiuri daily reported.

The industrial conglomerate had been aiming to file the financial report by end-June but has not been able to obtain approval from its auditor, the report said.

Toshiba was not immediately available for comment.

The Financial Services Agency is expected to approve Toshiba’s request, likely extending the deadline to mid-August, according to the report.

Toshiba has chosen a consortium of Bain Capital and Japanese government investors as the preferred bidder for its chip business, aiming to seal a deal worth some $18 billion (£14.2 billion) by next week as it scrambles for funds to cover massive losses. -Reuters

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