You are here
Toshiba secures auditor sign-off, likely avoiding immediate delisting
[TOKYO] Toshiba Corp secured its auditor's sign-off on its financial results, likely avoiding an immediate delisting, although its future hung in the balance with no progress in talks to sell its chips business.
Toshiba said on Thursday that PriceWaterhouseCoopers Aarata LLC (PwC) had given a "qualified opinion" on its results for the year through March. That means it broadly vouched for Toshiba's book-keeping despite finding minor problems.
Sources, however, have said that PwC will give an "adverse opinion" on Toshiba's internal controls in an annual report due to be filed later on Thursday. Toshiba has struggled to win back the trust of shareholders since a 2015 accounting scandal, in which it admitted to inflating profits over several years.