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Business

Clock running down on Toshiba's comeback plan

With fiscal 2016 earnings now official, concluding memory sale quickly is crucial

| Japan

TOKYO -- Toshiba has at last reported earnings for the year ended in March, fending off a delisting for now, but the Japanese conglomerate could still be kicked out of the stock market if it cannot conclude the sale of its memory unit by the end of March.

PricewaterhouseCoopers Aarata, Toshiba's auditor, gave the fiscal 2016 earnings report its qualified endorsement after months of discussion. Had the auditor refused to approve the earnings, the company could have faced delisting from the Tokyo Stock Exchange pending the bourse's review.

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