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Toshiba keeps fighting, but its future looks grim

Embattled giant fails audit as it prepares to sell its memory chip division

Toshiba President Satoshi Tsunakawa at a press conference in Tokyo on April 11 (Photo by Nozomu Ogawa)

TOKYO Toshiba's problems just won't go away. The company failed to get its auditor's approval of a delayed earnings report. The sale of its prized memory chip business is faltering. And wary creditors are casting doubt over future funding. It's definitely not a pretty picture, and if the electronics giant can't turn things around quickly, its troubles could multiply.

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