Moody's, S&P cut Toshiba's credit rating to junk

Nice happy new year not!

When the authorities impose a huge fine and send some of the execs to prison it is gonna look even worse. What? That won't happen? Japan Inc will rally round? No! But won't that just make the whole of corporate Japan and its regulators look untrustworthy?

Moonraker, if they started jailing people for accounting frauds, the prisons would overflow with Zaibatsu leaders. It's just best to pretend it's only Toshiba with irregular numbers.

Moody's, S&P cut Toshiba's credit rating to junk

slightly below Japan's credit rating.

So due to Fukushima and the accounting scandal, theyre cutting jobs in the ...appliances division in SE Asia? Gimme a break. I'm now in Vietnam and quite a few laptops, air conditioners, fridges, etc I'Ve spotted are Toshiba. It's one of the most ubiquitous Japanese brands here.

Consumers outside Japan arent going to stop buying Toshiba stuff due to the corporate accounting scandal.

Not a good sign. Toshiba has quite clearly been poorly run for some time.

Will be having a very good look at my portfolio to check there are no Toshiba bonds in there!

Had they actually punished those responsible and meant what they said when they said they would change the way they've done things, perhaps there would be more confidence they can actually turn things around. Sadly, instead, those responsible have their Caymen accounts untouched, their golden parachutes, their amakudari fallbacks, and a guaranteed Old Boys' 'get out of jail free' pass while the true backbone of the once great company will be fired, their stocks reduced to nothing, and a bleak future.

Well done, Japan Inc.!

I'm now in Vietnam and quite a few laptops, air conditioners, fridges, etc I'Ve spotted are Toshiba

Maybe because they are cheap. You're not going to see too much Toshiba appliances in developed markets in US/Canada/Australia/EU who don't care about price, as much as wanting quality and better technology.

I'm now in Vietnam and quite a few laptops, air conditioners, fridges, etc I'Ve spotted are Toshiba

Also more than a few Tohsibas, Yoshibas, and other Asian copies masquerading at Toshibas.

I'm from Vietnam, and Japanese brands are very popular in here, especially in the automobile and bike/motobike industry. However, in the electronic industry like Smartphone/tablets, air conditioners, fridges are leading by South Korean's Samsung and LG right now. Chinese/Taiwanese brands are growing very strongly as well.