Toshiba Posts $318m Full-year Loss

Troubled Japanese conglomerate Toshiba has posted a net loss of 37.8bn yen ($318m; £209.3m) for the year to March.

The delayed result follows the sale of its stake in Finnish firm Kone, in a bid to bolster its bottom line amid a recent accounting scandal.

The sale of the 4.6% stake in the lift manufacturer was worth $946.2m.

Toshiba's president and vice-president resigned in July after an independent panel found the company had overstated profits for the past six years.

The panel said operating profits had been overstated by $1.22bn, roughly triple an initial estimate by Toshiba.

The company has apologised to investors and has made attempts to avoid further accounting irregularities.

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