Toshiba Seems to Have Escaped SEC Penalty After Accounting Probe Ends
It was reported in March 2016 that the Securities and Exchange Commission and the Justice Department were investigating the “accounting problems” at Toshiba Corp.’s business units in the United States. Well, according to Reuters, the SEC has completed the investigation, and Toshiba is likely breathing a sigh of relief. “We understand that all SEC investigations […]
Toshiba Restating, Concedes That Restatement Could Be Restated
A "special task force" assigned by Toshiba Corp to look into accounting irregularities found that the company underestimated the costs of three infrastructure projects by ¥50 billion ($419 million). The company also said that "the review was continuing and the ¥50 billion figure could be revised later," allowing for the possibility that this could reach VA […]