Fresh Off The Block


Jul
15
2015

Toshiba Executive Resignations Rumoured

Toshiba's blocky red logo

A report published today in the Nikkei Asian Review has revealed that company president of Toshiba, Hisao Tanaka, plans to tender his resignation from the technology giant. having informed numerous ‘close associates’ of the intention. He is expected to be joined by his predecessor and current vice chair Norio Sasaki, who he displaced in 2013; as well as several other executives, totalling more half the board, as the company aims to clean the slate.

Central to the mass departures is a suggestion that the company has engaged in accounting irregularities. Third party regulators have been investigating financial mismanagement covering the tenure of both of the former presidents mentioned earlier; as well as a third former president, Atsutoshi Nishida, presently a consultant for the company. The investigation is expected to report the company’s complicity in padding its profits by fraudulently manipulating accounting records in order to appear to be more closely competing with rival Hitachi.

Toshiba has not yet made an official statement on the matter, but is expected to do so when it reveals the results of the investigation and reports its delayed financial earnings statement; during which the executive departures are also expected to be announced.

The irregularities, believed to stretch over at least a five-year period, have seen the company pad its operating profits by up to ¥200 billion (around £1.04 billion). Since the investigation was announced in early April, the company’s stock has nose-dived from ¥481.20 to just ¥374.90 today.

[Via Sanitarium.FM]

Digiprove sealThis informative article has been Digiproved © 2015
Acknowledgements: Original reporting: Nikkei Asian Revi more...
Some Rights Reserved

What Our Visitors are Talking About


Latest CommentsOn Twitter Right Now
  • “Unlock” Dialogue for Clone System tool in Aomei Backupper 2.5 by William Sims
  • Microsoft gets 561 million euro fine for missing browser ballot “oversight” by Gamer Repulic's Dorthea
  • Microsoft gets 561 million euro fine for missing browser ballot “oversight” by Sherman Moya
  • Microsoft gets 561 million euro fine for missing browser ballot “oversight” by Microsoft gets 561 million euro fine for missing browser ballot “oversight” | The Sanitarium.FM
  • Valve’s Steam Gaming Computer: What we know so far by Valve's Steam Gaming Computer: What we know so far | The Sanitarium.FM
  • Tweet to @TMWeb to have your comments appear here!

    Previous Articles


    Jan
    09
    2011

    US wants Twitter data of “Wikileaks activists”

    Ever since Wikileaks caused drama by leaking United States diplomatic cables – something I’m sure most people have heard about by now, and if not just look it up on the net – the US government has started an investigation to try to bring Wikileaks “to justice”. I put “to justice” in quotes not because I am taking the side of Wikileaks (I am neither pro or anti Wikileaks), but rather because not everyone agrees on this matter.

    Anyway, apparently as part of this investigation, the US Attorney’s office has convinced a District Court judge data held by Twitter is “relevant and material to [the] ongoing criminal investigation”; as a result, Twitter was earlier in the year served a subpoena, and now is forced to give over data related to various Twitter accounts believed to be related to either Julian Assange (the founder of Wikileaks) or Wikileaks itself – including Julian Assange’s own Twitter, plus those of Birgitta Jonsdottir, an Icelandic MP; and Bradley E. Manning, a militant supposedly responsible for the leaking of some of the cables; among others.

    The reason we are aware of this subpoena is because Twitter was recently able to overturn a gagging order originally served with it. A gagging order prevents a person from revealing information under penalty of law. After getting the gag, Twitter fought back and successfully got the gagging order lifted; so Twitter is now legally allowed to let the public – and the respective account holders – know about the US Attorney’s Office’s demand to hand over data.

    According to the BBC, the data demanded from Twitter by the US Attorney’s office includes “mailing addresses and billing information, connection records and session times, IP addresses used to access Twitter, email accounts, as well as the ‘means and source of payment'”.

    It will be interesting to see how this all plays out. Feel free to discuss in the comments below (consider this an open politics discussion thread), but keep it civil.

    [Many thanks to BBC News for breaking this news!]

    Digiprove sealThis informative article has been Digiproved © 2011