Baku – APA-Economics. Toshiba said Thursday it has expanded its full-year loss forecast to an eye-watering $6.0 billion, as one of Japan's best-known firms accounts for an embarrassing profit-padding scandal, Yahoo News reported.
The company -- a vast conglomerate that makes everything from rice cookers to nuclear plants -- also pointed to a global economic slowdown, saying it was taking a big bite out of results across its sectors, including memory chip and computer sales.
Its new forecast of a 710 billion yen loss for the fiscal year to March -- well up from an earlier 550 billion yen net loss estimate -- came as Toshiba said it lost 479.4 billion yen in the nine months to December, reversing a profit from a year earlier.
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