Skip in Skip x Embed x Share CLOSE Toshiba reported a huge loss, and the future of the once industrial giant is unclear. Elizabeth Keatinge (@elizkeatinge) has more. Buzz60 
 
 The logo of Toshiba Corp., with cherry blossoms in full bloom at its headquarters in Tokyo, Japan, April 11, 2017. (Photo: KIMIMASA MAYAMA, EPA) 
 
 Toshiba Corp. projected a $9.2 billion loss for its fiscal year and warned it may not be able to continue as a "going concern." 
 
 The Japanese electronics giant released unaudited results Tuesday, reporting steep losses related to the bankruptcy filing of its U.S. nuclear unit Westinghouse Electric Co. last month. For the first nine months of the year, which ends in March, it lost $4.8 billion. 
 
 The maker of computer chips and household appliances said expenses related to nuclear power construction by Westinghouse will "significantly" impact its liquidity. 
 
 "There are material events and conditions that raise the substantial doubt about the Company’s ability to continue as a going concern," the company said in its twice-delayed financial report. 
 
 Toshiba released the unaudited results, an unusual move, because it said its auditor couldn't reach a conclusion due to uncertainties related to the acquisition of U.S. nuclear construction company CB&I Stone and Webster. 
 
 One of Japan's most renowned electronics manufacturers, Toshiba has been roiled by soaring costs that followed the March 2011 nuclear disaster in Fukushima, which also hurt its public sentiment toward nuclear energy. It still must decommission the Fukushima Dai-ichi nuclear plant, which suffered repeat meltdowns after the 2011 tsunami in northeastern Japan. 
 
 Contributing: Associated Press. 
 
 Read or Share this story: http://usat.ly/2omqcXh ||||| Toshiba may not survive its deepening crisis. 
 
 The Japanese conglomerate said Tuesday that there is "substantial doubt" about its ability to continue as a going concern after it reported huge losses. 
 
 Toshiba has been hammered by the collapse of its American nuclear business, Westinghouse Electric, which filed for bankruptcy protection in the U.S. last month. 
 
 After twice missing deadlines, Toshiba (TOSBF) reported a net loss of 648 billion yen ($5.9 billion) for the quarter ended in December. But in an unprecedented move for a major Japanese company, Toshiba filed the report without the approval of its auditors. 
 
 Japanese regulators must now decide whether to accept Toshiba's earnings report. If not, shares in the ailing company could be delisted from the Tokyo Stock Exchange. 
 
 Here's where things stand: 
 
 Delayed earnings and delisting threat 
 
 The refusal by auditor PwC Aarata to give its seal of approval is another embarrassing blow for Toshiba as it tries to persuade investors that it can find a way out of its crisis. 
 
 Westinghouse suffered billions of dollars in losses due to cost overruns and construction delays at nuclear plant projects in Georgia and South Carolina. 
 
 The unit's bankruptcy means Toshiba will eventually be able to remove it from its accounts. But dumping Westinghouse could drag Toshiba to a net loss of 1 trillion yen ($9 billion) for the fiscal year that ended in March. 
 
 Related: Westinghouse Electric is filing for bankruptcy 
 
 PwC refused to sign off on the earnings report because it is still studying the results of investigations into Westinghouse's takeover of nuclear construction company CB&I Stone & Webster in 2015, Toshiba said Tuesday. 
 
 But the company says it has no reason to believe that losses tied to Westinghouse will have any financial impact beyond fiscal year 2016. Toshiba CEO Satoshi Tsunakawa said he considers the investigation to be over. 
 
 Regulators in Japan will have to decide if the disarray means Toshiba, one of the country's best known multinational corporations, should suffer the humiliation of having its shares taken off the stock exchange. 
 
 Selling off the crown jewels 
 
 To try to repair its balance sheet, Toshiba is now selling a majority stake in its prized computer chip business. Tsunakawa has said he expects the unit to fetch at least 2 trillion yen ($18 billion). 
 
 Taiwan-based Foxconn, one of Apple (AAPL, Tech30)'s biggest suppliers, has offered as much as 3 trillion yen ($27 billion), according to The Wall Street Journal and Bloomberg. Toshiba declined to comment on the reports, and Foxconn didn't respond to a request for comment. 
 
 Related: Toshiba chairman steps down as company takes $6.3B hit from nuclear business 
 
 But the Japanese government is keen to keep the memory chip business in the country, according to local media, and has called on Japanese companies to club together to buy a stake. 
 
 Toshiba said Tuesday that the sale of the chip business and other assets would enable it to stay financially sound. 
 
 What happens to Westinghouse? 
 
 Westinghouse's bankruptcy filing has raised questions about what will happen to the storied U.S. company. 
 
 Toshiba's majority stake in Westinghouse will be sold. That will happen under the supervision of the bankruptcy court "and we will not be involved in that," Tsunakawa told reporters last month. 
 
 The sale process could fuel concerns in the U.S. government, which reportedly wants to ensure domestic nuclear capabilities don't end up being bought by a Chinese firm. 
 
 Westinghouse is already building reactors in China. Buying the struggling American company could provide China with technology it needs to become a leading player in nuclear power. 
 
 -- Yoko Wakatsuki in Tokyo contributed to this article.
– Toshiba says it has "substantial doubts" about its continued existence, USA Today reports. That will happen when your company is projecting it will lose $9.2 billion in the current fiscal year. The Japanese company has been struggling since the 2011 Fukushima nuclear disaster but suffered a major blow when Westinghouse Electric, its US nuclear unit, filed for bankruptcy last month. According to CNN, Toshiba is trying to recover by selling a majority stake in its computer chip business. The financial report that was released Tuesday had been delayed twice and was only finally released without approval from Toshiba's auditors. If the report isn't accepted, Toshiba could be dropped from the Tokyo Stock Exchange.