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TOSHIBA president Hisao Tanaka may resign in the face of a major accounting scandal at the Japanese conglomerate and semiconductor firm.
The external panel investigating the accounting irregularities will release its report as early as next week. This will then prompt the resignation of Toshiba’s president, claim Japanese news reports, citing unnamed sources.
Toshiba has overstated around 200 billion yen in its group operating profits, over a period of five years to March 2014. The semiconductor, TV and PC businesses have been caught up in this alleged profit-padding scandal.
Japanese media have placed the blame on some of the top executives at Toshiba, and a reshuffle of the echelons is expected once the investigative report is released.