Toshiba Corp. will likely miss a third deadline to report its fourth-quarter business results, two sources said, forcing the conglomerate to ask for a fresh extension or face a possible delisting from the Tokyo Stock Exchange.
A postponement of the report past the April 11 deadline looks necessary because Toshiba's auditor, PricewaterhouseCoopers Aarata LLC, has questions about results for the business year through March 2016, said the sources. One of the sources had direct knowledge of the delay and the other had been briefed on it.
Toshiba also may not be able to choose a favored bidder for its semiconductor business by its general shareholders meeting in late June, said another person with direct knowledge of the matter. He had previously said the decision would be made in May, or at least before the shareholders meeting.