Toshiba in more trouble after missing deadline for crucial results

Embattled electronics giant Toshiba fell further into the mire on Monday, missing a deadline to file its annual results.

The Tokyo Stock Exchange had given the Japanese giant until May 15 to unveil its figures, but Toshiba said its auditors were still examining the figures.

Toshiba admitted in 2015 that the previous seven years’ profits had been inflated.

This led to the resignation of several members of the top management, including the chief executive.

Toshiba, behind the planned £10 billion Moorside nuclear project in Cumbria, warned that its losses were likely to hit 950 billion yen (£6.5 billion).

It hopes to move back into a profit this year.

It has been forced to puts its US nuclear subsidiary Westinghouse into Chapter 11 bankruptcy protection. It plans to sell its chip division, raising two trillion yen in the process.

Toshiba is talking to PwC about producing the figures.