Toshiba: Japan trunk bank sues it for $120 million over accounting scandal 


Toshiba Corp (6502.T) said on Friday a Japanese trust bank was suing it for 12 billion yen ($119 million) for losses stemming from the company’s $1.3 billion accounting scandal last year.

Japan Trustee Services Bank had filed the suit with the Tokyo District Court on Aug. 9, the technology and industrial conglomerate said in a statement.

Toshiba said it would set aside a “reasonable” amount of cash to cover any damages and would revise its earnings guidance as needed.

Source: Reuters

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