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Tosh’s Tokyo Listing In Jeopardy

Tosh’s Tokyo Listing In Jeopardy

Struggling Japanese electronics and nuclear company Toshiba has been given until August 10 to get auditors to sign off on its earnings statements – or it may be de-listed from the Tokyo Stock Exchange.

Toshiba received an extension of an earlier June deadline to give its earnings report for its fiscal year ended March, but was penalised over a second board listing.

The company recently revised its unaudited earnings report to a 995 billion yen or US$9 billion loss.

Last week the company revealed it has chosen a consortium led by a government-backed fund to purchase its much sought-after computer memory chip business.

The bid from the consortium of Innovation Network, Bain Capital Private Equity and the Development Bank of Japan totals about 2 trillion yen or US$18 billion.

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