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Toshiba sees bigger loss as restructuring costs mount
[TOKYO] Japanese industrial conglomerate Toshiba Corp said it expects a bigger loss than it previously forecast amid mounting restructuring costs after a US$1.3 billion accounting scandal.
Toshiba said it now expected a net loss of 710 billion yen (S$8.51 billion) compared with a previously expected loss of 550 billion yen.
Toshiba is trying to recover from the book-keeping scandal in which it overstated profits from around 2009.
In December, it said it would slash 6,800 consumer electronics jobs, taking total cuts beyond 10,000, including previously announced plans.