Toshiba has under-reported costs for three years leading it to suspend results forecasts, cancel the dividend, and suffer a 22 % drop in its share price.
Toshiba has established an Independent Investigation Committee to look at the situation.
The company has shown an average annual growth of only 2% for the past decade.
It recently exited the TV and mobile phone markets.
Toshiba says the accounting irregularities relate to ‘infrastructure businesses’ which may mean the tech businesses are unaffected.
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via Yuichun
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