crime

U.S. investigating Toshiba over alleged accounting irregularities

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© 2016 AFP

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14 Comments
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It's a Japanese company; padding and cooking the books is par for the course.

5 ( +11 / -6 )

Selling out to China! Oh, how the mighty have fallen.

4 ( +5 / -1 )

Now I am getting worried,,, what JP companies will be left???

I need to keep the paycheck coming for couple more decades,,,

1 ( +3 / -2 )

Its the JP bubble all over again.

0 ( +1 / -1 )

TOSHIBA Leading Innovation >>> Accounting Irregularities !

0 ( +3 / -3 )

Japan's reputation is in tatters at this point.

3 ( +5 / -2 )

many people who gave their lives working for what seemed like a very secure position will now find themselves out of work and on the scrap heap in their 50s. Much harder to find work at that age. People must stand up and take the blame. They knew what they were doing was wrong and that they (I presume they) would eventually be found out.

Toshiba eh…who would have thought?

1 ( +1 / -0 )

Toshiba eh…who would have thought?

I'm actually not that worried, just as I didn't worry about Sharp. And I think we all gave up on Sony a long time ago. However, if (and when) Panasonic takes a hit, that's when I'll start panicking!

0 ( +1 / -1 )

Toshiba is selling its subsidiaries to get lots of money, and they claim they will have a 15 billion profit next year. But is that by regular "accounting" or by Toshiba "accounting"?

0 ( +2 / -2 )

But is that by regular "accounting" or by Toshiba "accounting"? Japanese accounting.

1 ( +2 / -1 )

However, if (and when) Panasonic takes a hit, that's when I'll start panicking!

Panasonic has accrued around $20 billion in losses since 2007, added to losses which it has held since before that time. If they earned as much profit every year as they did last year, they should have that debt paid off in three decades or so.

If you wonder why Japanese companies are slow to invest or increase wages, now you know. Some are sitting on cash, but for the most part, their long term debts fr outweigh their cash holdings. The only exceptions are the car makers, but they employ fewer Japanese nowadays, the domestic companies are mostly underwater.

4 ( +4 / -0 )

though a Toshiba spokeswoman said a price for the deal had yet to be announced.

Especially if scandals and investigations like these happen, their potential buyer might be squeezing to lower the prices as much as possible, which makes sense to be honest.

0 ( +0 / -0 )

Toshiba eh…who would have thought?

Toshiba has made poor international choices before:

In 1981, Toshiba Machine Company and Kongsberg Vaapenfabrik began selling advanced milling machines and accompanying numerical control equipment to the Soviet Union in violation of the regulations of the Coordinating Committee for Multilateral Export Controls (Cocom).

http://auilr.org/wp-content/uploads/pdf/4/4-1-8.pdf

These sales allowed the Soviet Union to manufacture metal parts with a much higher precision than they previously were capable of, and naturally the machines were immediately put to use in the production of military hardware.

1 ( +1 / -0 )

The fact is that all Japanese companies have to get out of comsumer products. That is going to China, and then India, SE Asia, etc. The have to concentrate on high end circuitry and materials, which only Japan has the money and know-how to produce.

-3 ( +0 / -3 )

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