News: Accounting scandal took a toll on the company.
Following the accounting scandal, Japanese tech company Toshiba is likely to post a net loss of roughly ¥500bn ($4.1 bn).
Toshiba is set to disclose plans to restructure money-losing businesses soon.
The company’s consumer products unit which makes computers and televisions has been carrying losses previously posted an operating loss in the first half of the fiscal year, ended on 30th September.
Toshiba’s semiconductor unit was making profit by supplying flash-memory chips to smartphone makers, but it too has hit with losses. The company is planning to sell a stake in the unit.
Reports said the company is looking into a restructuring plans, which could include asset write downs and one-time costs for reducing the workforce.
The company is facing a ¥7.3bn ($59m) fine by Japan’s Securities and Exchange Surveillance Commission after it overstated its profits by $1.9bn over seven years.