In May, Toshiba set up a third-party committee to expand a probe into other businesses after an internal investigation found “accounting problems” related to infrastructure and construction work.
Although the figures took a bit of a tumble when they were recalculated by someone who was good with numbers few people batted so much as an eyelid.
The Nikkei Business Daily has been asking people in the know and found out that the same creative book-cooking antics had been found in Tosh’s PC and chip making operations.
Finding the same thing in the rest of the business will not only force the Japanese industrial conglomerate to revise down profit further, it shows that the problem is much worse than expected.
So far the “inappropriate book-keeping” had led to profits being overstated by $438 million in recent years.
A Toshiba spokeswoman said the Nikkei report was not based on anything that the company had announced and that the third-party investigation was ongoing.