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Toshiba’s Top Executive Team Resigns in Wake of Scandal

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BREAKING NEWS

Toshiba CEO Hisao Tanaka
[PHOTO: REUTERS/Issei Kato]
Much as we anticipated in our report yesterday, at a press conference today in Tokyo, Toshiba President Hisao Tanaka has resigned from the company as a result of a broiling accounting scandal in which investigators say company bosses were involved in improperly inflating company profits. Vice Chairman, and Tanaka’s predecessor, Norio Sasaki and adviser Atsutoshi Nishida have also resigned in a startling confirmation of the severity of the crimes, as these executives are some of the most powerful individuals running the company up to now.

See more on this new development… [Read more…] about Toshiba’s Top Executive Team Resigns in Wake of Scandal

Investigators: Toshiba Over-Inflated Profits; Top Execs Knew

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BREAKING NEWS

Company Schedules Press Conference Tuesday; President Expected to Resign

Toshiba FacilityThe Japan Times is reporting today that investigators looking into potential accounting malfeasance at Toshiba Corp. for the five-year period ending March 31, 2015 have released summary findings that confirms that the company management was directly involved in misreporting profits. The news exploded in Japan, as one of its most venerated companies has lost all credibility.

The company has scheduled a press conference for Tuesday in which it is widely anticipated that Toshiba’s President Hisao Tanaka will resign.

But the damage to the company, doesn’t end with Tanaka…see more… [Read more…] about Investigators: Toshiba Over-Inflated Profits; Top Execs Knew