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4-Traders Homepage  >  Equities  >  Tokyo  >  Toshiba Corp    6502   JP3592200004

TOSHIBA CORP (6502)
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Toshiba : unveils improper accounting practice at affiliate

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12/26/2017 | 11:03am CET

Toshiba Corp. said Tuesday it has found improper accounting practices at its social infrastructure business affiliate in relation to electrical installation work.

Toshiba Infrastructure Systems & Solutions Corp. attributed expenses in connection with a money-losing project to another profitable business for four years through September 2017, with the total doctored costs amounting to 95 million yen ($838,000), Toshiba said.

The head of the affiliate that conducts electrical installation work ordered employees to cover up the losses, according to the Japanese conglomerate.

The malpractice came to light after a subcontractor consulted Toshiba over expenses. Toshiba said the announcement was late as an internal inspection took time.

Toshiba was hit by an accounting scandal in 2015 when it admitted that it had deliberately overstated profits for years.

==Kyodo

© Kyodo News International, Inc., source Newswire

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Financials ( JPY)
Sales 2018 5 027 B
EBIT 2018 -
Net income 2018 1 541 B
Debt 2018 160 B
Yield 2018 0,13%
P/E ratio 2018 1,23
P/E ratio 2019 9,96
EV / Sales 2018 0,44x
EV / Sales 2019 0,43x
Capitalization 2 054 B
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Toshiba Corp Technical Analysis Chart | 6502 | JP3592200004 | 4-Traders
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Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 374  JPY
Spread / Average Target 19%
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Managers
NameTitle
Satoshi Tsunakawa Executive President, CEO & Director
Naoto Nishida Senior Managing Executive Officer
Yasuo Naruke Director & Representative Senior Executive VP
Kouichi Ikeda Independent Outside Director
Ryoji Sato Independent Director
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