toshiba has been shown by irrec larts. the company had originally predicted a net profit of $1 billion. now it is reporting a net loss of about 38 billion yen or $318,000 in fiscal 2014. the toshiba president has just gone in front of the media to explain the results. >> we deeply involve to our investors by creating an irregular situation. >> they announced candidates for toshiba's board of directors, most from outside of the country. officials say toshiba posted losses in its semi conductor division. the exposure forced the company to further revise down profits t. company said it would downgrade the profit of $1.8 billion. now it says the amount is $1.89 billion. toshiba will seek approval at a shareholders meeting on september 30th. china has revised down its gdp growth rate for last year. analysts say the unusual move confirm the country's economy is on a declining trend. officials at the national bureau of statistics said on monday that the ecomy grew in 2014 by a revised 7.3%. that's down 0.1 percentage point from t