Search Results for: Toshiba
Toshiba says it is not considering ending PC production
February 16th, 2016
A Toshiba Corp said on Tuesday it was not considering withdrawing from personal-computer production and selling its Hangzhou factory in China. The comment by a Toshiba spokesman followed a report by the Sankei newspaper that said the Japanese conglomerate ...
Toshiba replaced EY with a new auditor
January 28th, 2016
Toshiba picks PwC as auditor after accounting scandal Toshiba Corp said on Wednesday it had chosen PricewaterhouseCoopers Aarata as its auditor from the business year starting April 1, replacing Ernst & Young’s local affiliate after a debilitating accounting scandal ...
EY’s Japanese arm fined £11.6m by regulator over Toshiba failings
December 23rd, 2015
Japan’s financial regulator has fined EY’s Japanese affiliate ¥2.1bn (£11.6m) over the firm’s failure to identify accounting irregularities at Toshiba which meant the electronics giant overstated profits by some £780m over at least six years – The fine is ...
Toshiba predicts record billions loss
December 21st, 2015
Troubled Japanese conglomerate Toshiba has said it will report a record 550bn yen ($4.5bn) annual loss and cut 6,800 jobs as it carries out a restructuring. The company, whose activities range from laptops to TVs to nuclear energy, is shedding ...
Japan regulator seeks punishment of Ernst-affiliate over Toshiba audit
December 15th, 2015
A Japanese regulatory board recommended punishing an Ernst & Young affiliate after its audit of Toshiba Corp failed to spot Japan’s worst accounting scandal in four years. The Certified Public Accountants and Auditing Oversight Board, a regulatory panel within Japan’s ...
Fifty individual shareholders sue Toshiba seeking $2.45 million in damages
December 7th, 2015
Fifty individual shareholders of Toshiba Corp sued the Japanese conglomerate in Tokyo on Monday, seeking 301.99 million yen ($2.45 million) in damages after the firm’s stock plunged in the wake of a multi-billion dollar accounting scandal. The lawsuit against ...
Toshiba Posts Net Loss as Sales Slump to Lowest in 2 1/2 Years
September 14th, 2015
Toshiba Corp. posted a net loss for the first quarter as sales fell to the lowest in two and a half years. The net loss was 12.3 billion yen ($102 million) for the three months ended June, the Tokyo-based ...
Scandal-hit Toshiba tries to draw line in sand with £207m loss
September 8th, 2015
The accounting scandal, which broke in July, has wiped more than a third off the company’s value The electronics and industrial giant Toshiba faces a huge uphill struggle to repair its tattered corporate reputation as it reported a much-delayed ...
E&Y Japan has launched an in-house investigation into its audit in relation of Toshiba Corp accounting scandal
August 3rd, 2015
The Japanese affiliate of Ernst & Young LLC has launched an in-house investigation into its audit of Toshiba Corp in the wake of the electronics maker’s $1.2 billion accounting scandal, a person with knowledge of the matter said. Ernst ...
Lessons From Toshiba: When Corporate Scandals Implicate Internal Audit
July 28th, 2015
Last week’s high-profile resignations of CEO Hisao Tanaka and eight other Toshiba Corp. executives amid revelations of systemic and prolonged financial misstatements raise questions anew about Japan’s corporate governance culture. The venerable conglomerate, which makes everything from consumer electronics ...
