Toshiba said Wednesday it will not be able to release its fiscal 2016 earnings report at its shareholders meeting next month, as the prospect of a timely filing of its financial statement with regulators by the end of June grows dimmer by the day.
Struggling to win approval for its results from its auditor, the embattled conglomerate is already at the brink of stock market delisting, and the delay could affect the Tokyo Stock Exchange's review of Toshiba's qualifications for remaining on the bourse.
"At this point, completion of the auditing is expected to take some more time ... Toshiba recognizes that it will not have the lead time required to prepare and provide the business report" for the June 28 ordinary shareholders meeting, Toshiba said in a statement on Wednesday.