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Toshiba hit with record fine in wake of accounting scandal

Toshiba is facing an eye-watering ¥7.37bn ($59.9m) fine over the massive accounting scandal that hit the Japanese firm this summer. The Japanese securities watchdog has suggested the figure after Toshiba was found to be embroiled in accounting irregularities. Toshiba’s CEO, Hisao Tanaka, resigned in the summer after an independent probe found the vendor had overstated its profits to the tune of ¥151.8bn over the past seven years. Read More...

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