Auditor Toshiba approved the company's financial report, due to which the Japanese conglomerate was able to avoid the recall of shares from the stock exchange. At the same time, the corporation was criticized for the lack of progress in the negotiations on the sale of semiconductor business.

According to the Reuters news agency referring to documents Toshiba provided to the Tokyo Stock Exchange, the company received an audit report with reservations from PriceWaterhouseCoopers (PwC) Aarata to the financial report for the past year and April-June. This means that the auditor approved the accounting conducted by Toshiba, but pointed to minor violations.

After Toshiba reported huge write-offs in the nuclear business, the corporation began to provide regulators with reports that were not approved by the PwC audit company, which began cooperating with the corporation in April 2016. The main requirement of the auditor for Toshiba is the recognition of losses of several billion dollars from a subsidiary of Westinghouse (serves nuclear power plants in the US) for periods until December 2016. Toshiba claims that the losses should be taken into account later than this period.

Toshiba was under threat of delisting, and the deadline for issuing an audit report was August 10, 2017.

Earlier, the Asahi Shimbun newspaper wrote that PwC is considering the possibility of forming an "unfavorable conclusion" for the reporting of Toshiba, which could lead to the withdrawal of shares of the company from the Tokyo Stock Exchange.

Meanwhile, PwC expressed "an unfavorable audit opinion" about the internal control of Toshiba, noting that losses in the bankrupt Westinghouse were not taken into account in a timely manner.

In the last fiscal year that ended on March 31, 2017 calendar, Toshiba's net loss was 965.7 billion yen (about 8.8 billion dollars). Revenues on an annual basis decreased by 5.44%, to 4.87 trillion yen ($ 44.

3 billion).

In the fiscal year 2017-2018, Toshiba forecasts revenues of 4.97 trillion yen ($ 45.2 billion), net profit of 230 billion yen ($ 2.1 billion).

To compensate for the losses, Toshiba aims to sell the semiconductor division, which accounted for 94% of the corporation's profits in April-June 2017. However, negotiations with potential buyers stalled because of pressure from Western Digital, with which Toshiba is developing a joint venture.