[Global Technology Reporter Wang Huan] According to a report from Japan’s Kyodo News on February 17, Toshiba’s financial restructuring in the first three fiscal quarters (April to December) was due to the possibility of new Regarding the violations, Kyodo News learned of the summary of the suspected violations on the 16th. In order to whitewash the nuclear power plant construction business conducted by US nuclear company Westinghouse Electric (WH), the highest level exerted pressure on its subordinates to carry out duties and harassment, and there was a risk that compensation fees would have to be paid to the victims.
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According to relevant sources, Westinghouse President Danny Roderick has harassed his authority. There were relevant personnel who had reported internally and Westinghouse Electric had purchased the company for the US nuclear power plant construction business, which exerted pressure on the implementation of the assets assessment process for the company. Rodriguez also served as president of Toshiba’s power company company and was dismissed on the 14th of this month.
It is learnt that several former Westinghouse staff who left their posts due to harassment of authority may intend to file a lawsuit for damages. Whether or not this compensation fee is reflected in the financial report, etc., Toshiba Corporation and the audit institutions have disagreements, which may be the reason for failing to release the financial report on time.
Toshiba announced on the 14th that the financial report is expected to provide a total of 712.5 billion yen (about 43 billion yuan) in losses for the US nuclear power business. It is reported that even if the litigation costs are added, it is not expected to cause a substantial increase in the loss.
In Toshiba’s financial fraud in 2015, three presidents of all ages had the problem of using “challenge†and other terms to compel them to falsely report profits. Although Toshiba repeatedly stated that it would correct the social atmosphere, this issue also revealed the fact that it has not improved.
Toshiba’s stock was designated by the Tokyo Stock Exchange as a “special attention market stock†due to financial fraud, and urged it to improve its management system. The TSE is expected to make a decision to lift the designation or delisting after March, and this harassment of authority may also have a negative impact on the review of the TSE.
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