accounting practices: President Masashi Muromachi, who took charge after three of his predecessors left following a July third-party report on accounting practices at the company, had said he might quit if the new deadline was missed, according to The Japan Times. The second delay of earnings, initially due in May, comes after internal and external probes of the industrial group accounting led to the resignations and caused at least ¥145 billion in writedowns. The industrial group obtained permission from the securities regulator to postpone the report due Monday until Sept. 7. Toshiba said Monday it discovered irregularities in percent-of-completion accounting related to a U.S. hydro-power unit construction project. They need to report as soon as possible. One week delay is not such a big deal, but that another week of uncertainty, said Hideki Yasuda, an analyst at Ace Research Institute in Tokyo.
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