A grandiose financial scandal occurred in Toshiba. The company is accused in violating accounting and providing false information about their income. Because of the false information, as contained in the financial records of the company, the amount of income for the period 2008-2014 was understated for $ 1.9 billion.
The regulatory authorities proposed the fine in the amount of $ 60 million. It will be a record fine in Japan. While on the other hand this amount is very small comparing with any fines encountered in such cases in American companies.
Japanese regulators are trying to build confidence in the securities market, and yesterday, December 7, 2015, they said about the fine against Toshiba on $ 60 million and about possible prosecution of its former executives.
General Secretary of the Commission for Supervision of securities and exchanges Sasaki Kiyotaka, announced at Monday at media briefing that the investigation concerning the financial affairs of the company was carried out with great care, because Toshiba is an important brand name not only in Japan but also far beyond its borders.
In response, Toshiba’s President Masashi Muromachi said that the company is planning a global restructuring. “I have decided to implement the reform without any restrictions,” – the Muromachi said.
This summer, the company has already carried out the reorganization of the management, when three leaders left the office.
After all these events, investors began to have doubts about the Toshiba. Moreover, fifty shareholders sued the company to court, demanding to compensate damages in the amount of ¥ 302 million.
As a consequence – Toshiba shares fell 37% to ¥ 302 ($ 2.45) from ¥ 483.
Toshiba Corporation is a major concern which produces electrical engineering, electronics, power equipment, medical equipment. In 2014 the company ranked 145 in the Fortune Global 500 (the top 500 largest companies, which annually published in the Fortune magazine).
Company Continues Strategic Expansion Adding New Service Capabilities, Talent, and Broadening Nearshore Footprint SAN JOSE, Calif.—January 5, 2023— GlobalLogic Inc., a Hitachi Group Company and Digital Engineering Leader, today announced the acquisition of Hexacta, a Pan-Latin-America digital and data engineering company. The acquisition is part of GlobalLogic’s continued strategy to expand its offerings, and its […]
Last year, the global medical device market reached $532.62 billion, according to Mordor Intelligence. Ukrainian engineers are involved in the projects of key players, which occupy almost 10% of the market. This share can be estimated at 50 billion US dollars*. Domestic specialists create more than a hundred software solutions of various levels. These include […]
Новий власник Twitter Ілон Маск доручив інженерам попрацювати над перезавантаженням Vine, яке може бути готове до кінця нинішнього року. Про це повідомляє Axios. Зазначається, що інженерам компанії необхідно вивчити стару кодову базу відеосервісу, яка не змінювалася та не оновлювалася з моменту закриття, а саме з 2016 року, коли з’ясувалося, що майданчик не витримує конкуренції. Втім, одне з […]
Credit Agricole has been ranked first in the social responsibility rating of the banking sector, created by Standard-Rating based on the 2022 half-year results. The rating agency commended the bank’s contribution to the economy of Ukraine. The bank has paid UAH 100 million in taxes in advance, while issuing UAH 1.2 billion in loans under […]
From October 1, drivers must turn on the dipped headlights of the car outside the city. This helps to additionally mark the vehicle in conditions of low visibility within the autumn-winter period. GlobalLogic reminds about the importance of compliance with traffic rules and tells about the developments of Ukrainian engineers that affect road safety. In […]
Intellias, a global software engineering and digital consulting company, has announced the completion of its acquisition of Digitally Inspired, a fast growing, UK based peer, focusing on the Retail and eCommerce industry. “I am delighted to welcome the Digitally Inspired team to Intellias. It is symbolic that Intellias’ twentieth anniversary coincided with signing an agreement […]
3×4, a Web3 fundraising platform for non-profits, has been launched in Ukraine to bring innovative crypto & NFT fundraising to the rising number of social impact causes. 3×4 helps non-profit organizations to fundraise utilizing NFTs in collaborations with artists and brands while providing donors utility, revenue and transparency. The idea of 3×4 was born in […]
The Agrofusion agribusiness holding intends to invest $ 50 million in building a plant for processing tomatoes in the Mykolaiv region. This is stated in a message on the site of the Mykolayiv Regional State Administration. “The Agrofusion Company begins construction of a new plant for processing tomatoes in Snigirevskyi district, which will be the largest […]Next
Company representatives, who engaged in the design, construction and equipment for solar power plants, note a significant decline in demand for their services. This is due to instability of the industry and growing debts for “green” electricity. “We are talking about 1260 MW of RES generation that has been launched in the first three quarters […]Next
Nationalization of PrivatBank, lawsuits against Apple, and the most interesting ideas from leading industry executives. Only that is really worth your attention 1. Privat is no longer private On December 18 at 23:30 p.m. it was posted the information on the site of the Governmental portal of Ukraine that […]Next
An art lecturer who had a 25-year relationship and a son with a teenage student said he was not sure he loved her any more than his dog and dismissed her as a mere lodger. Kim Woodward was a talented 19-year-old design student when she fell for artist Rupert Ashmore, a Jaguar-driving 36-year-old lecturer at […]Next
The Danish company will combine its assets in Ukraine and Russia. It is reported by “ProAgro”. Antimonopoly Committee of Ukraine (AMC) gave the permission for the merger of Ukraine-Agro A / S and the Russian Pig Meat A / S (both – Holstebro, the Kingdom of Denmark). According to the resolution of the Antimonopoly Committee, […]Next
World oil prices at the auction on Thursday, June 3, updated for a maximum of four months. Thus, August futures on Brent reached $ 71.84 per barrel, which is the highest since January 2020. July futures on the WTI are trading above $ 69 per barrel – a maximum of October 22, 2018. Quotes are […]Next
The Bloomberg News agency estimated the yield a wide range of assets in 2015, ranging from currencies and stock indexes, to commodities and junk bonds. It is in the segment of junk bonds (junk, high-yield bonds) determined the most profitable asset last year – Eurobonds of Ukrzaliznytsia with maturing in May 2018. Investments in this […]Next
The judicial panel on criminal cases of the Kiev Court of Appeal March 16, 2016 considered and settled the appeal, canceling the seizure of property of the GREENSTONE group of companies: “Petroprodukt-Ukraine”, “Yagotynske HPP”, “Protein-Production” and “League “. This was said in the press release. At the request of the investigator of the National Police – […]Next
Good news from products company Lantmannen AXA was not long in coming! Company asked consumers: “What ingredients do you add most often to granola?” One of the most popular answers is nuts. We launched Super nuts Granola! The design has acquired the corporate style of the AXA Granola line. In combination with oatmeal, crispy honey […]Next
The President of Ukraine signed the agreement on association with the EU on September 16, 2014. It was what all country has aimed and waited for so long. However, what we have today ?Are the expectations met? We decided to talk about it within the weekly Analytics from LDaily heading this time. First of all, it will […]Next
Company Naftohaz Ukraine has analyzed the alternatives to sale the foreign assets, but there is no a buyer for it. According to the director of the company Andrii Kobolev, the true reason for this is a low profitability of Ukrainian Naftohaz assets in Egypt. It is reported by UNIAN. Kobolev said that it is not […]Next
In the United States over the past 15 years, 25 billionaires have paid a much lower income tax than they should have. ProPublica based on confidential data from the US IRS published the investigation. In particular, among the 25 billionaires are Berkshire Hathaway CEO Warren Buffett, former New York Mayor Michael Bloomberg, Amazon founder Jeff […]Next
Today, December 2, 2015, in the capital «Hilton» hotel passes the fourth international “The Tiger Conference”, which is devoted to energy issues, the new economy, leadership, and the rule of law. The conference was attended by over 300 of heads of domestic and foreign companies as well as government leaders and public figures. Representatives of […]Next
Antimonopoly Committee of Ukraine has approved the deal Cyprus company Fundamentum KCG Limited with representative of national business OOO Development Foundation. The decision was published on the official website of the Ukrainian regulator on January, 27 of this year. According to publicly available information, the foreign conglomerate will carry out the acquisition of a controlling […]Next
For the three quarters of 2021, the budget was overfulfilled in terms of revenues by 5.3%, or UAH 46.65 billion, from the plan and exceeds last year’s level by 20.8%. This was reported on the website of the State Treasury. In particular, in September the budget was overfulfilled by 6.4%, or UAH 6.2 billion, and […]Next
Saudi Arabian State Oil Company Saudi Arabian Oil Co. (Saudi Aramco) is negotiating the sale of up to 49% of its pipeline assets to a consortium of American, Chinese and local investors, writes The Wall Street Journal, citing informed sources. According to sources, the amount of the transaction could range from $ 10 billion to […]Next