Toshiba to discuss further restructuring
Company still struggling with fall-out from accounting scandal
Toshiba will discuss a restructuring plan today, following a report that the company is expected to announce a record loss of more than $4.13bn (500bn yen) for the current fiscal year.
Ironically, that loss is being attributed to restructuring costs. The company, which dabbles in everything from laptops to nuclear power, was hit hard this year after it emerged that its earnings had been overstated by $1.3bn since 2008. The accounting error prompted a major restructuring drive, which resulted in a number of top-level resignations.
Today, Toshiba said it will discuss further restructuring, but did not elaborate on what actions might be taken forward. However, the vendor did note that, if more restructuring was undertaken, it would likely result in further losses.
According to Reuters, Toshiba shares dropped by 9% today.