The results were unaudited, which raised more questions after two reporting delays, coupled with downgrades from Moody's Investors Service, and Japanese credit rating firm R&I, which threatened its listing on the Tokyo Stock Exchange, where it has traded since the exchange was established in 1949. The company is still reeling from an accounting scandal in late 2015 in which senior management overstated profits by about $1.2 billion over a seven-year period. The fallout tarnished the brand globally and led to the resignation of Chief Executive Hisao Tanaka, Vice Chairman Norio Sasaki, and eight board members. The latest projection follows a $4.8 billion loss in its previous fiscal year. A potential sale of Toshiba's flash memory business, which is valued at about $17 billion, could save the company from financial ruin, but it's running into several obstacles.