Troubled Toshiba warns survival at risk

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Toshiba has filed its delayed financial results, warning that the company’s survival is at risk.

The electronics-to-construction conglomerate reported a loss of $4.8bn (532.5bn yen) for April-December.

“There are events and circumstances that may bring about significant questions about the idea of [carrying on] as a going concern,” the firm said in a statement.

The results have not been approved by the firm’s auditors.

Toshiba is expected to hold a news conference later.

The conglomerate has been losing money, largely because of problems at its recently-bankrupt US nuclear unit.

Shares slumped by nearly 2% before the earnings announcement, despite reports that Taiwan’s Foxconn may bid $27bn for its valuable memory chip unit.

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