Toshiba, whose U.S. nuclear unit Westinghouse has filed for bankruptcy protection, is reporting a 950 billion yen ($8.4 billion) net loss for the fiscal year ended March, Bloomberg reported today. The Japanese electronics giant's results have failed to win auditors' approval from the previous quarter, after questions were raised over the acquisition of U.S. nuclear construction company CB&I Stone and Webster. Tokyo-based Toshiba Corp. called the results projections, rather than results, since they lack the company's auditors' approval, but it was in line with what it had said recently. The loss was about double the 460 billion yen ($4.1 billion) loss racked up the previous fiscal year. Toshiba, whose products include computer chips and household appliances, acquired Westinghouse in 2006. Its president said that the strategy based on Westinghouse was a mistake, and has promised it won't take on new nuclear projects. Toshiba has been trying to sell its computer-chip business to shore up its finances, but has become embroiled in a dispute with U.S. joint venture partner Western Digital, which is demanding that Toshiba not sell it to anyone else.
