Toshiba Corporation
In July 2015 a committee set up to investigate Toshiba reported profit overstatements, and the president resignedS1. In September 2015 the Tokyo Stock Exchange designated Toshiba a Security on Alert and fined it JPY 91.2 millionS2. The exchange said pretax income from continuing operations had been overstated by JPY 224.8 billion and net income by JPY 155.2 billion from the fiscal year ended March 2009 to the third quarter of the fiscal year ended March 2015S2. The Securities and Exchange Surveillance Commission recommended a penalty of JPY 7,373,500,000 in December 2015S3. The Financial Services Agency issued the penalty order on 24 December 2015S4. Toshiba was taken private and delisted on 20 December 2023S5.
- Also known as
- Toshiba
- Headquarters
- Japan
- Records from
- Japan
- Current status
- Privately held company. Its shares were delisted from the Tokyo Stock Exchange on 20 December 2023 after a takeover by a group led by Japan Industrial Partners valued at about US$14 billionS5.
- Former TSE stock code
- 6502
Scope. This record covers the accounting irregularities disclosed in 2015 and the related regulatory penalties. It does not cover the Westinghouse nuclear losses, the 2021 shareholder meeting governance disputes, or Toshiba Tec and other listed affiliates.
Claims assessed
3 claims. Scores grade the evidence for each claim, not the organization.- Outdated83Press reports in July 2015 said an independent committee found Toshiba had overstated profits by JPY 151.8 billion between 2008 and 2014.Press report, 21 July 20152 records citedAccounting
- Supported94Japan's Financial Services Agency ordered Toshiba in December 2015 to pay an administrative penalty of more than JPY 7.3 billion for false statements in its securities reports.Regulator statement, 6 January 20163 records citedAccounting
- Opinion65Toshiba said on its delisting in December 2023 that it would take a major step toward a new future with a new shareholder.Company statement, 20 December 20232 records citedCorporate status
Cases and proceedings
- Tokyo Stock Exchange and Toshiba CorporationTokyo Stock Exchange. Regulatory. Not published.Stage: Designation and penalty imposed.
- Security on Alert designation and JPY 91.2 million listing agreement violation penaltyS2
- Financial Services Agency and Toshiba CorporationFinancial Services Agency of Japan, on recommendation of the Securities and Exchange Surveillance Commission. Regulatory. Not published.Stage: Administrative monetary penalty order issued.
Responses on record
- Toshiba Corporation, then president, 21 July 2015, on Press reports in July 2015 said an independent committee found Toshiba had overstated prof...
The then president apologised to stakeholders at a news conference and stepped down.S1
Revision history
- Profile and 3 assessments first published. Records checked to 25 October 2026.
Source records
- S2Tier A Designation of Security on Alert and Imposition of Listing Agreement Violation Penalty -TOSHIBA CORPORATION-Japan Exchange Group, Tokyo Stock Exchange. Regulator order. 15 September 2015.Supports the designation, the JPY 91.2 million penalty and the restated overstatement amounts. It does not cover the FSA penalty.Link working, checked 25 October 2026
- S3Tier A Recommendation for Administrative Monetary Penalty Payment Order for Violation of Disclosure Requirements by TOSHIBA CORPORATIONSecurities and Exchange Surveillance Commission. Regulator press release. 7 December 2015.Supports the recommended amount and the legal basis. It is a recommendation, not the order.Link working, checked 25 October 2026
- S4Tier A Administrative penalty charge against TOSHIBA CORPORATION for making false statements in securities reportsFinancial Services Agency of Japan. Regulator press release. 6 January 2016.FSA Weekly Review No. 177, covering 21 to 28 December 2015. It confirms the order of 24 December 2015 and the conduct, and gives the amount as more than JPY 7.3 billion.Link working, checked 25 October 2026
- S1Tier C How did Toshiba get away with padding profits for 6 years?The Christian Science Monitor. Press report. 21 July 2015.Article by Michelle Toh reporting the committee's JPY 151.8 billion figure and the resignations. The committee report itself was not read.Link working, checked 25 October 2026
- S5Tier C Toshiba delisted after 74 years, faces future with new ownersReuters, republished by Malay Mail. Press report. 20 December 2023.Supports the delisting, the buyer group and the company statement. No individual byline is shown.Link working, checked 25 October 2026