Reuters sources claim that the tech giant will be racking up the equivalent of between $2.4 billion and $3.2 billion in charges due to “overstated profits” over the past six years, and this could lead to a very dangerous rollercoaster for the company.
As of now, the investigators won’t be able to reveal anything until next week, as they are still trying to find out whether or not the executives played a role in this scandal.
But according to Engadget, what the investigators may find might not mean much to Hisao Tanaka, CEO of Toshiba, because he will be having no choice but to resign for letting the scandal happen on his watch. It is also expected that almost half of the board of directors will be forced to resign too. We do know that Norio Sasaki, the current Vice Chairman and the former President of Toshiba is expected to leave the Japanese Conglomerate in September.
If the reports are accurate about bad accounting, this still shows that there are a couple of ways that Japan could go in its bid to improve the shaky leadership of its local tech giants. Prime Minister Shinzo Abe is backing the corporate reform campaign, as he cracks down on misbehaving corporations in a bid to attract desperately needed foreign investment. but we are yet to see any ground breaking revelations.