Toshiba shares dip after the company reveals losses and warns its future is at risk

Courtney Goldsmith
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Toshiba's losses are down to its US nuclear unit, Westinghouse (Source: Getty)

Toshiba finally filed its long-awaited quarterly earnings yesterday with a warning the company's future is at risk, and shares in the troubled firm have fallen further today.

As investors ditched the stock, Toshiba's share price fell as much as four per cent today before recovering somewhat to close down 1.03 per cent.

The results, which were two months delayed and had not been approved by the firm's auditors, have put Toshiba at risk of being delisted from the Tokyo Stock Exchange.

This chart, put together for City A.M. by Statista, shows just how dramatically Toshiba's losses have grown this year due to writedowns on its Westinghouse nuclear unit, which has filed for bankruptcy protection.

Toshiba expects its full-year losses to be $9bn (£7.2bn), compared with $4.07bn in losses in 2016.

However, there is some hope for the company yet.

Foxconn, a Taiwan manufacturer, is reportedly planning to bid up to $27bn for Toshiba's prized chip business, which it is selling to cover losses.

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