Jul 21, 2015

Toshiba's accounting scandal among biggest in Japan corporate history

Toshiba Corp.’s ¥152 billion ($1.2 billion) accounting scandal, caused by top executives setting unrealistic profit targets, ranks among the largest in Japanese corporate history. An industrial group that makes everything from nuclear reactors to microchips and home appliances, Toshiba said Monday it must correct ...

Toshiba chief hinted at resignation in May

Jul 17, 2015

Toshiba chief hinted at resignation in May

Toshiba Corp. President Hisao Tanaka hinted in May that he would step down to take responsibility for an accounting scandal that has savaged the reputation of the once-mighty Japanese conglomerate, a company source said. Amid media reports Friday that his exit may come as ...

Jul 15, 2015

Toshiba CEO to step down in September over accounting scandal

Toshiba Corp. Chief Executive Hisao Tanaka will step down in September along with other board members including Vice Chairman Norio Sasaki to take responsibility for accounting irregularities, sources familiar with the matter said. The Japanese conglomerate has hired a third-party committee to investigate past ...

Jul 15, 2015

Toshiba's cooked books

Unless it's determined why Toshiba's existing governance mechanism failed to prevent accounting irregularities it will be difficult to prevent similar incidents in the future.