Over the course of its 145-year history, Toshiba Corp. has become a household name in Japan, with the firm often seen as representing the country along with other famed electronics giants such as Sony Group Corp. and Panasonic Corp.
But Toshiba’s reputation has taken a significant hit in recent years due to a series of scandals, and the company now seems to represent the shortcomings of Japan’s corporate culture — weak governance, conflict with foreign investors and a lack of strong leaders.
The Tokyo-based industrial conglomerate saw further damage to its brand in June after it was found to have colluded with the government to influence foreign investors’ voting behavior at an annual shareholders meeting.