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Toshiba may deepen full-year loss forecast as recast costs mount

The company may extend its net loss projection to over 600 billion yen from 550 billion yen currently

A man walks past a logo of Toshiba Corp at an electronics store in Tokyo

A man walks past a logo of Toshiba Corp at an electronics store in Tokyo

Reuters Tokyo
Toshiba Corp said on Thursday it is examining whether to deepen its full-year loss forecast when it reports quarterly earnings later in the day, amid mounting restructuring costs after an accounting scandal.

Kyodo News and The Nikkei reported that the industrial electronics conglomerate will downgrade its net loss projection to over 600 billion yen ($5.1 billion), from the 550 billion yen currently foreseen, for the year ending March 31.

Toshiba said in a statement that the reports were not based on any company announcements and it would release its earnings at 0600 GMT.

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First Published: Feb 04 2016 | 6:03 AM IST

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