Toshiba Unit Booked Fictitious Sales of 43.5 B. Yen

Economy

Tokyo, Feb. 14 (Jiji Press)--Japan's Toshiba Corp. <6502> said Friday that a subsidiary booked fictitious sales of 43.5 billion yen in a total of 26 transactions recorded only on paper.

The scandal may again throw Toshiba into a business crisis similar to the one it suffered after its massive accounting fraud came to light in 2015.

The subsidiary in question is Toshiba IT-Services Corp. of Kawasaki, Kanagawa Prefecture, near Tokyo.

Nine companies including the subsidiary were found to have been involved in the round-tripping transactions that did not involve any commercial goods or end users, according to information mainly from a report on the outcome of an in-house survey involving lawyers and certified accountants.

The fictitious transactions related to sales of information technology equipment, such as personal computers, booked between November 2015 and July 2019, said the report, disclosed by Toshiba.

[Copyright The Jiji Press, Ltd.]

Jiji Press