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Toshiba President Satoshi Tsunakawa
Business

Battle between auditors drove Toshiba's earnings delay

PwC Aarata, ShinNihon disagreed on when nuclear losses could have been recognized

| Japan

TOKYO -- Toshiba's earnings for the year ended in March have seen the light of day at last with a "qualified" endorsement from PricewaterhouseCoopers Aarata -- the product of a monthslong squabble among the Japanese conglomerate, the auditor and its predecessor.

News had broken in late 2016 of massive losses at U.S. nuclear power company Westinghouse Electric, then a consolidated Toshiba subsidiary. But then PwC Aarata learned in mid-January that former managers at Westinghouse stood accused of pressuring underlings to understate those losses.

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