Toray Industries Inc. and Toyo Suisan Kaisha Ltd. have both said they will seek to terminate their audit contracts with scandal-tainted ChuoAoyama PricewaterhouseCoopers, one of the top four auditing firms in Japan.
Nippon Telegraph and Telephone Corp. meanwhile plans to renew its audit contract with ChuoAoyama in September, company sources said.
NTT will seek approval for the plan from shareholders at their general meeting in June, they said.
Toray, the nation’s largest maker of synthetic fibers, said it will propose at its general shareholders’ meeting June 28 that its auditor be changed to Ernst & Young ShinNihon.
ChuoAoyama and its predecessor had been the company’s auditor for about 40 years.
Toray denied the recent scandal at ChuoAoyama was a direct reason for ending the contract.
Toyo Suisan Kaisha said it will dispense with ChuoAoyama in its joint-auditor ties with KPMG Azsa & Co.
It also denied the scandal was the reason for the change.