Toshiba, whose U.S. nuclear unit, Westinghouse Electric, has filed for bankruptcy protection, reported unaudited earnings Tuesday, projecting a 1.01 trillion yen ($9.2 billion) loss for the fiscal year that ended March 31.
Tokyo-based Toshiba’s unaudited results showed it recorded a 532.5 billion yen ($4.8 billion) loss for the April-December 2016 period. In February, the company had projected a 390 billion yen ($3.5 billion) loss for the fiscal year.
The projected loss ballooned because of losses related to Westinghouse’s bankruptcy filing last month, Kallanish Energy reports.
Toshiba auditor PricewaterhouseCoopers Aarata said it couldn’t reach a conclusion in its review of the figures because of uncertainties related to the acquisition of U.S. nuclear construction company CB&I Stone and Webster.
Toshiba in recent years has been selling off some of its choicest businesses to survive. Costs soared after the March 2011 nuclear disaster in Fukushima, because of growing safety concerns and stricter regulations. A souring of sentiment toward nuclear power in some countries, weaker oil prices and the growing appeal of natural gas have also hurt the company’s nuclear energy-based business strategy.
President Satoshi Tsunakawa apologized for the problems, but said he did not foresee a need for any dramatic revisions in the earnings report. He called the auditor’s decision not to approve it “truly regrettable.”