The government's Kanto Local Finance Bureau gave its approval for the application to reset the deadline to Aug. 10. It is the fifth time for the struggling electronics and machinery giant to move back a deadline for announcing financial results, including quarterly ones, since its accounting scandal came to light in fiscal 2014.

Toshiba remains unable to close its book for the year ended in March this year, due to a dispute with its auditor, PricewaterhouseCoopers Aarata LLC, over when

Westinghouse Electric Co., its US nuclear business unit, recognized its massive losses.

Westinghouse's Chapter 11 bankruptcy protection filing in March is also believed to have contributed to the book-closing delay.

As there is little doubt that Toshiba was in a state of negative net worth at the end of March, the Tokyo Stock Exchange has decided to demote Toshiba's stock from the first section to the second section in August, informed sources said.

At a shareholders' meeting, scheduled for Wednesday, Toshiba is expected to show earnings estimates instead of reporting auditor-certified results. (Jiji Press)