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Toshiba: Accounting Fraud
內容大綱
In July 2015, the chief executive officer of Toshiba Corporation (Toshiba) resigned over the revelation of a JPÂ¥151.8 billion accounting scandal that shocked the world. Toshiba, a Japanese multinational conglomerate with net sales of JPÂ¥6.5 trillion and total assets of JPÂ¥6.2 trillion, had been widely criticized in the news for the multi-billion-dollar accounting fraud. The company's stock prices declined by 38% after the accounting probe was announced, and the company withdrew the dividend that had been declared earlier. These setbacks challenged company investors, who had always regarded Toshiba as a reputable company. The investors were wondering the same thing as everyone else watching the scandal unfold: how could a company with a 140-year history do this, and why? What were the consequences? What should Toshiba do in response to this crisis?