Toshiba shares fall 9.5% after company delays earnings announcement

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Shares in Toshiba slipped further in afternoon trading after the company failed to release its scheduled earnings report, which had been set to provide further details on the financial troubles at its nuclear business.

Toshiba’ stock fell 9.5 per cent following the the company’s failure to release figures as scheduled for noon in Tokyo.

Toshiba had set February 14 as the date to tell the market exactly how bad the situation is at its US nuclear business. The company in December flagged the potential for a multi-billion writedown at the business with analysts predicting the amount would fall in region of $5bn-$6bn.

The company’s stock had already tumbled in morning trading after Nikkei reported the nuclear and electronics conglomerate would issue a “business risk warning” today.

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