Japanese former prosecutor calls for official probe into Toshiba's woes

Tokyo

THE situation surrounding Japan's troubled electrical and engineering Toshiba Corporation is "out of control", a former public prosecutor declared on Wednesday, while calling for a full official inquiry into events that have brought the firm to the brink of collapse.

Toshiba shares are still listed on the Tokyo Stock Exchange despite the fact that the company declared a record loss of 552 billion yen (S$6.9 billion) and acknowledged that "substantial doubt exists about ability to continue as a going concern", said prominent lawyer Nobuo Gohara.