MORE SKELETONS IN CLOSET: The company has said irregularities found so far included not booking appropriate losses and expenses, as well as underestimating material costs. The investigation is expected to conclude in mid-July.
TOKYO: Japan's Toshiba Corp may need to mark down past earnings by over 100bil yen (RM3.09bil), more than double earlier estimates, after an investigation into past accounting practices found more irregularities, a source familiar with the matter said.
The Nikkei business daily reported earlier on July 4 the newly discovered errors, related to computer parts procurement, could see an earnings mark down of around 150bil yen (RM4.64bil) at the industrial conglomerate.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
