The company published a notice, informing that it has discovered misconduct by an employee.
In its notice, Toshiba Tec sincerely apologised for the inconvenience and concern this incident may cause to its stakeholders.
Toshiba Tec confirmed that one employee at its domestic branch recorded fictitious orders to receive goods for personal benefit and subsequently resold them. This misconduct was revealed through an internal investigation following the employee’s confession during the accounts receivable verification process.
The damage caused by the Misconduct amounts to approximately ¥200 million ($1.32 million/ €1.26 million) over the period from FY2017 to FY2024. As the financial impact on past periods is minor, the necessary adjustments have already been incorporated into the financial results for the third quarter of the fiscal year ending March 2025.
Toshiba Tec added that there is no change to the earnings forecast for the current fiscal year as previously announced.
Toshiba said: “We have taken strict action against the employee involved in accordance with our internal policies. We take this incident very seriously and are committed to strengthening our internal control systems, including without limitation, reviewing business processes and enhancing compliance education, to prevent any recurrence and regain the trust of our stakeholders.”
