Electronics company Toshiba faces a 7.37 billion yen (€55 million) for falsifying earnings, the largest financial penalty ever sought by Japan's watchdog, the Securities and Exchange Surveillance Commission.
Toshiba misled investors by filing false financial statements for several periods including 2012 and 2013, according to a statement today from the regulator. The commission is still considering whether to recommend penalties against former top company executives.
Toshiba replaced its top management and is raising cash by selling shareholdings and...
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