View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
December 7, 2015

Accounting scandal results in record fine for Toshiba

News: Fine is subject to approval.

By James Nunns

Toshiba is set to face the largest ever fine in Japan for accounting-related violations.

The company is being faced with a ¥7.3 billion ($59m) fine after it overstated its profits by $1.9 billion over seven years.

Recommended by Japan’s Securities and Exchange Surveillance Commission, the fine is subject to approval by the country’s Financial Services Agency.

The impact this will have on the company is unknown, although the company has said that it had already set aside ¥8.4 billion in order to pay any fines.

Toshiba has been going through a number of changes recently, having announced its plans to sell off its semiconductor business.

The company has also seen changes in management; three former chief executives stepped down from their roles.

Content from our partners
Rethinking cloud: challenging assumptions, learning lessons
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.