Toshiba reports loss

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- Reported net loss of 245.63 billion yen ($1.32 billion) for past 9 months
- Had reported 1.02 billion profit for same time last year
- Total sales down 7.1% to 2.46 trillion yen
- Admitted that a managed IT services subsidiary booked fictitious sales of 43.5 billion yen in a total of 26 transactions recorded only on paper
- “We believe our business had hit rock bottom and expect it to turn around……” stated Masayoshi Hirata, CFO

2/18/209:46 PM

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