Toshiba earnings large irrigation reproduction financial scandal"

Toshiba's earnings are explosive irrigation, things become, now that the incumbent president Tanaka Kuxiong, including the board of directors of the high-rise will be replaced, informed sources told the Reuters said storm may be the origin of major financial scandals in recent years that Toshiba is not the first time.

In March 2015, Toshiba media revealed any earnings fraud, the original estimate only power, infrastructure and other departments found false financial statements, then the semiconductor sector also involved, in April the Japanese regulatory unit of Toshiba's earnings have raised doubts too irrigation in the chip, laptops and nuclear reactor project, things such as rolling snowball rolls the Toshiba, for the establishment of an independent investigation committee, the official pointed out that in June, the company 2009~2013 financial statements of profit projects need to cut 54 billion 800 million yen (about $400 million), however, 15 Reuters quoted informed sources alleged that the amount may be expanded to 3000~4000 billion yen ($24~32 billion), means that Toshiba's earnings may be more than the amount of irrigation the original estimates, Toshiba Co declined to comment.

Event traceability - the company's internal financial target pressure

Informed sources revealed to the Reuters, Toshiba earnings broke in a large part of the reason that bear great pressure in the top division of Toshiba, various business entities have rigorous performance appraisal, not through will suffer severely criticized. When the economy is good, the organization can use negative incentives, but when the boom reversed, this approach may be counterproductive. In 2008 the global financial tsunami, Toshiba suffered spread and huge losses, Sasaki Norio took office in 2009, the original mobile phone sales will be the focus of small and medium sized panels, transferred to the nuclear power generation and the semiconductor business, however, East Japan earthquake happened in 2011, became a big hit nuclear power business, had to look for new business in the profit target to become aggressive and difficult to implement, low cost and high income behavior is beginning to be acquiescence, including two maximum for the November 2011 high-speed road electronic toll system, and in 2013 9 generation meter.

According to Japan's Sankei News survey, the main object of an independent investigation committee in addition to President Tanaka Kuxiong, vice chairman of the board in fall (former president) Sasaki Norio, and the Wall Street journal have the message also contains a former president of the transferred adviser Nishida Atsushi. There are rumors that a number of directors, including Tanaka Kuxiong, including the board of directors to step down, the opportunity to replace the fall in 9 months, but Toshiba has denied earlier, and stressed that no decision has yet been made.

Looking back on the past - Olympos hid twenty years of losses

Japan broke out so much accounting scandal is not the first time in 2011, Japan Olympos outbreak related optical manufacturers earnings fraud incident, the origin of things and accounting background is quite similar to Toshiba cloud in 1990s, Japan's economic bubble, Olympos hidden investment loss, the company continued to use accounting practices, and through mergers and acquisitions in the amount of the acquisition price and other ways to fill loss of large hole, and Practice for 20 years, the last thing in the history of the Olympos the first non Japanese president took office, because the question is not clear and was expelled from the company accounts before the outbreak, according to the survey data Committee, misappropriation of the amount of up to 134 billion 800 million yen (about $1 billion), the scandal was also fell 30% lose the trust of the market.

Toshiba accounting in the amount of really expanded to 150 billion yen, and even Reuters pointed out 3000~4000 billion yen for Japan in recent years, the largest accounting scandal, Toshiba's share price has fallen about 28% since the scandal. The survey results are expected to be released in mid 7, while the original June is expected to announce earnings (as of March 2015) will be extended until the announcement in August.

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