Toshiba

Toshiba has posted a group net loss of JPY 49.8 billion ($439.5 million) for the first half of the current Japanese fiscal year, but the bleak outlook for its solar operations is the least of its concerns, as it struggles to cover losses from its bankrupt U.S. nuclear business and avoid being delisted from the Tokyo Stock Exchange (TSE).

Japan’s Toshiba has fabricated a perovskite solar cell mini-module with an energy conversion rate of 10.5%, which it claims is now the highest rate that has been reached throughout the world with a multi-cell mini-module.

Toshiba has reported a group net loss of JPY 965.7 billion ($8.8 billion) for fiscal 2016, as its energy systems and solutions business — which which builds solar, wind, geothermal and hydropower projects, in addition to battery-based energy storage systems and smart meters — posted an operating loss of JPY 41.7 billion in the 12 months to the end of March 2017, marking a significant improvement from the preceding fiscal year.

The Japanese group — which develops solar projects and provides PV systems solutions, in addition to EPC and O&M services — has warned of “substantial doubt” over its “ability to continue as a going concern,” largely due to the decline of its nuclear business in the U.S.

The Bangkok-based company acquired the rights to build and run a 154.98 MW solar array in Onikobe, Miyagi prefecture.

The Tokyo-listed trading firm built the project with its partners in Okayama, Okayama prefecture.

Paris-based Electro Power Systems (EPS) expects to commission the PV-powered project in the first quarter.

The Tokyo-based group will oversee construction of the ¥13 billion ($114.3 million) project in the city of Minamisoma, on the east coast of the Japanese island of Honshu.