Toshiba president Hisao Tanaka and his predecessor Norio Sasaki resigned today over a US$1.2bil accounting scandal blamed on management’s overzealous pursuit of profit that has battered one of Japan’s best-known firms.
The two men were among eight high-level executives and directors at the sprawling conglomerate to take the fall, stepping down after an independent report found senior management complicit in a years-long scheme to pad profits.
In a stinging indictment, the report by a company-hired panel said managers were involved in “systematically” inflating profits over several years, in one of the most damaging accounting scandals to hit Japan in recent years.
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The two men were among eight high-level executives and directors at the sprawling conglomerate to take the fall, stepping down after an independent report found senior management complicit in a years-long scheme to pad profits.
In a stinging indictment, the report by a company-hired panel said managers were involved in “systematically” inflating profits over several years, in one of the most damaging accounting scandals to hit Japan in recent years.
Click Here For Free Signals OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance About KLSE online Feel Free To Mail Us at : info@epicresearch.my
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