Jul 8, 2016

Three ex-Toshiba heads likely to escape charges over accounting fraud

The Tokyo District Public Prosecutors Office’s special investigation unit believes it will be difficult to charge three former presidents of electronics and machinery giant Toshiba Corp. over the firm’s high-profile accounting scandal, sources said Friday. The unit informed the Securities and Exchange Surveillance Commission ...

Jun 26, 2016

Corporate governance report card

Companies are making good progress in complying with the Tokyo Stock Exchange's corporate governance principles, but the proof will be in the pudding.

Jun 23, 2016

GPIF sues Toshiba for losses over accounting scandal

Japan’s $1.3 trillion Government Pension Investment Fund is suing Toshiba Corp. for losses on its investments after an accounting scandal sent the conglomerate’s shares plunging. GPIF is seeking damages of about ¥900 million, said Shinichirou Mori, a spokesman for the fund. The losses related ...

Jun 22, 2016

Toshiba chief vows to regain trust at shareholders meeting

Toshiba Corp. President Masashi Muromachi vowed Wednesday to rebuild trust in the electronics and machinery giant after an accounting scandal. “We’re resolved to do all we can to win back trust and restore the value of the firm,” Muromachi told a general shareholders meeting ...

May 23, 2016

Toshiba revises earnings results, plans to halve capital base

Toshiba Corp. has corrected fiscal 2015 earnings results released earlier in the month, as the industrial conglomerate reviewed its calculations of losses from its nuclear power business. Toshiba, hit by an accounting scandal that surfaced roughly a year ago, also announced it will more ...

May 12, 2016

Toshiba posts ¥483.2 billion loss on Westinghouse writedown

Toshiba said Thursday that it suffered a ¥483.2 billion full-year net loss as the troubled conglomerate booked a massive writedown of its U.S. nuclear unit. It said the worst was over and forecast profits for the current business year. Once a proud pillar of ...

May 6, 2016

Toshiba VP Tsunakawa to become president in June

Toshiba Corp. said Friday it will promote Vice President Satoshi Tsunakawa to replace President Masashi Muromachi as the industrial conglomerate aims to rebuild itself under new leadership. The company’s board of directors made the decision on Friday. The personnel change is expected to take ...

Apr 27, 2016

Toshiba reduces projected loss for 2015 business year

Toshiba Corp. has said it plans to book an asset impairment loss of around ¥260 billion in its results for the year to March 31 by writing down the value of its U.S. nuclear power subsidiary Westinghouse Electric Co., which it acquired in 2006. ...