Items tagged with hisao tanaka

Toshiba president and CEO Hisao Tanaka and several company board members have resigned following an investigation that revealed that the Japanese firm reported more than a billion dollars in fake profits over the past seven years. In the wake of the scandal, Toshiba said it would adjust earnings by at least 151.8 billion yen (around $1.2 billion in U.S. currency). "The company takes the situation it has caused very seriously and we deeply apologize to our shareholders, investors, and all other stakeholders," Toshiba said in a statement (PDF). "The company will thoroughly analyze and examine the investigation results and recommendations received from the Independent Investigation Committee, and... Read more...