The Business Times
The Business Times
Subscribe
Share on FacebookShare on TwitterView more
The Business Times
Create a free account with Business Times for seamless access across SPH Media products.
REGISTER
LOGIN

Companies & Markets

SUBSCRIBERS

Toshiba CEO seen stepping down

Accounting scandal will also lead to 300-400b yen in charges, say sources

Published Thu, Jul 16, 2015 · 09:50 PM
Share this article.

Tokyo

TOSHIBA Corp expects 300-400 billion yen (S$3.3-4.4 billion) in charges related to improper accounting in an expanding probe that is set to force chief executive Hisao Tanaka to step down, sources familiar with the matter said on Wednesday.

The Japanese conglomerate has hired a third-party committee to investigate past book-keeping practices which sources say led to profits being overstated by more than 170 billion yen. That's more than triple Toshiba's initial estimate of around 50 billion yen.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Consumer & Healthcare

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here