Technology

Toshiba says SEC completes accounting probe, no penalty

Toshiba says SEC completes accounting probe, no penalty


TOKYO (Reuters) – Japan’s Toshiba Corp (6502.T) on Monday said the U.S. Securities and Exchange Commission (SEC) had completed an investigation of its past accounting practices without fining the company.

FILE PHOTO: A logo of Toshiba Corp is seen outside an electronics retail store in Tokyo, Japan, February 14, 2017. REUTERS/Toru Hanai/File Photo

“We understand that all SEC investigations regarding our accounting have been completed,” a spokesman told Reuters, adding that there was no penalty.

Toshiba’s 2015 accounting scandal revealed billions of dollars in liabilities at its subsidiaries, and forced the conglomerate to sell its prized memory chip unit.

Reporting by Ritsuko Ando

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