Mark down of past Toshiba earnings may exceed 100b yen

Tokyo

TOSHIBA Corp may need to mark down past earnings by over 100 billion yen (S$1.1 billion), more than double earlier estimates, after an ongoing investigation into past accounting practices found more irregularities, a source familiar with the matter said last Saturday.

The Nikkei business daily reported earlier last Saturday that the newly discovered errors, related to computer parts procurement, could see an earnings mark down of around 150 billion yen.