Toshiba stock drops again on viability concerns

Stock in Toshiba took another dip at the open on Wednesday after the company warned of “substantial doubt” about its ability to stay in business.

Shares in the company fell as much as 3.6 per cent in early trading to ¥215.4.

The troubled Japanese conglomerate issued the warning on Tuesday about its ability to continue as a going concern after failing to convince its auditor to sign off on third-quarter earnings.

The conglomerate is still reeling from its worst-ever financial crisis due to far-reaching problems at its US nuclear subsidiary Westinghouse, and its failure to obtain an auditor accounts sign-off increases the risk it could lose its status as a listed company.