business

Toshiba president to resign over accounting scandal

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14 Comments
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Um, fraud charges? Jail time? Or, is he just another Japanese bureaucrat that escapes persecution due to his status?

5 ( +6 / -1 )

Toshiba thinking of selling its stock in the nuclear reactor company Toshiba-Westinghouse in which it holds 60% .

0 ( +1 / -1 )

Disillusioned: "Um, fraud charges? Jail time? Or, is he just another Japanese bureaucrat that escapes persecution due to his status?"

Precisely. It's Japan, so they'll protect him, and in fact give him the same or a similar job in another department or company.

4 ( +4 / -0 )

Not newsworthy (head line) in Japan.

0 ( +1 / -1 )

You know what helps a mighty fall like this? A big fat retirement package to cushion the landing!

4 ( +4 / -0 )

Toshiba just can't compete with electronic/heavy industry heavyweight companies like Samsung, LG, Hitachi and Mitsubishi. It's a sinking company like Sharp and Olympus.

0 ( +3 / -3 )

Precisely. He's going to bow, she'd a few crocodile tears, take a gigantic severance package and stay out of sight for a few months before starting a nice new well-paid sinecure.

There is no accountability for the good old boys in Japan Inc. not a trace of honour, either.

0 ( +1 / -1 )

everybody be resigniiiiinnnggg

0 ( +0 / -0 )

Pretty sad isn't it? How could they get better doing crap like that

0 ( +0 / -0 )

Disillusioned: I think these people should be prosecuted rather than persecuted.

1 ( +1 / -0 )

Aaaaand the little guys lose again.

0 ( +0 / -0 )

Not much surprising.

But I wonder how Japan's corruption perception index ranking is ranked so high. Don't Japanese people see these things as corruption problems?

-3 ( +2 / -5 )

The Japanese firm, which makes everything from batteries to nuclear reactors, has allegedly overstated around 200 billion yen in its group operating profits for the five years to March 2014, Kyodo and Jiji Press said.

So now it has magically doubled to 200 bilion yen. These are not "irregularities", it is fraud, plain and simple.

Tanaka and former president and current Vice Chairman Norio Sasaki are among those behind the profit-padding, the reports said, as they allegedly put excessive pressure on subordinates to achieve profit targets.

Yup, Japan Inc. at its finest. First Olympus, now Toshiba. Just a matter of time before another one emerges.

An accounting scandal involving massive Japanese conglomerate Toshiba deepened on Saturday as reports said the company’s president would likely be forced to resign.

He should be going to jail. Why aren't the guys with all the brown boxes raiding Toshiba's headquarters like they did Toyota's? Oh, that's right, Toyota involved a gaijin woman who had the gall to sneak in 50 some pills, while this is about years of defrauding stock-holders. Wonderful priorities.

0 ( +5 / -5 )

Toshiba makes good products. Hope that they can improve their technology. They make good hard drives and pptops and memory

0 ( +0 / -0 )

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