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Toshiba bosses responsible for overstating profits by US$1.2b: panel

Monday, July 20, 2015 - 22:06
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Toshiba's top executives were behind a plan that inflated profits by US$1.2 billion over the past six fiscal years, according to an independent panel Monday, in a stinging indictment of one of Japan's best-known firms.

[TOKYO] Toshiba's top executives were behind a plan that inflated profits by US$1.2 billion over the past six fiscal years, according to an independent panel Monday, in a stinging indictment of one of Japan's best-known firms.

The findings came after Toshiba hired an outside team of investigators to look into accounting irregularities uncovered by securities regulators probing the conglomerate's balance sheet earlier this year.

AFP