Business / Corporate Sep 10, 2015

S&P downgrades scandal-hit Toshiba, with 'negative' outlook

U.S. credit rating agency Standard & Poor's said Wednesday that it has downgraded Japanese electronics company Toshiba Corp.'s long-term corporate credit to "BBB-" from "BBB," stating that confusion in its operations arising from "inappropriate" accounting may continue to have a negative impact on its ...

Toshiba unveils more exec pay cuts over accounting scam

Business / Corporate Jul 30, 2015

Toshiba unveils more exec pay cuts over accounting scam

Toshiba Corp. has announced an additional round of punishments over its accounting scandal — pay cuts affecting 16 executives, including Chairman and President Masashi Muromachi — and the resignation of another executive. Muromachi will have his executive salary slashed by half for an undecided period ...

Editorials 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.

Toshiba president pressed subordinates to improve profits

Business / Corporate Jul 10, 2015

Toshiba president pressed subordinates to improve profits

The president of Toshiba Corp., which has been embroiled in an accounting scandal, placed intense pressure on his subordinates to meet profit targets, potentially driving them to pad profits, sources familiar with the matter said Friday. President Hisao Tanaka made phone calls and sent emails ...