What happened to Toshiba?
Why Corporate Governance Strategists Rewatch This 10-Minute Toshiba Collapse Story Founded 1875 becoming pride of Japan: "Tanaka Hisashige founded Tanaka saaku later went submerges named Toshiba 1939, with each passing year became renowned Innovation reliability redefined performance standards, surviving turmoil second world war star rose along Japanese economy became world second biggest after US." Accounting scandal revelation: "2015 company rocked staggering Revelation send shock waves throughout business World, Toshiba admitted engaging accounting irregularities exposed widespread Financial mismanagement, revealed overstated profits by billions dollars over several years leading loss investor trust credibility, inflated earnings 1.2 billion biggest company Scandal nation seen years." Executive deception culture exposed: "independent investigation uncovered web deceive revealing how Executives engaged systematic accounting fraud meet unrealistic profit targets, Fallout not just Financial it was existential, once proud Legacy lay tatters reputation paragon Japanese industry Shattered revelations deception dishonesty." Westinghouse nuclear disaster: "company's foray nuclear power industry through acquisition Westinghouse electric company 2006 prove costly misstep, 2017 Westinghouse filed bankruptcy citing massive cost overruns delays construction nuclear reactors United States, bankruptcy dealt crippling blow forcing write off billions dollars losses embark path restructuring divestment." Final governance scandals delisting: "2020 Toshiba found further accounting irregularities allegations related corporate governance way shareholder decisions made, investigation 2021 found colluded Japan's trade Ministry suppress interests foreign investors, made foreign investors uncertain investing Japanese stocks not just Toshiba problem issue Japan's entire stock market, December 20th 2023 delisted Tokyo Stock Exchange." 5 Key Timestamps: [01:21] The 2015 Accounting Scandal Revelation – Company admitted engaging accounting irregularities exposed widespread Financial mismanagement, revealed overstated profits billions dollars several years, inflated earnings 1.2 billion biggest Scandal nation seen years [05:22] The Executive Deception Culture Exposed – Independent investigation uncovered web deceive Executives engaged systematic accounting fraud meet unrealistic profit targets, stock plummeted erasing billions market value overnight, top Executives forced resign disgrace [07:23] The Westinghouse Nuclear Acquisition Disaster – Acquisition Westinghouse electric 2006 prove costly misstep, 2017 filed bankruptcy citing massive cost overruns delays construction reactors, bankruptcy dealt crippling blow forcing write off billions losses [08:44] The Corporate Governance Collusion Scandal – 2021 investigation found Toshiba colluded Japan's trade Ministry suppress interests foreign investors, made foreign investors uncertain investing Japanese stocks not just Toshiba problem issue entire stock market [00:42] The Early Success Before Collapse – Founded 1875 became renowned Innovation reliability redefined performance standards, 2000s experienced significant growth consumer electronics flat screen TVs laptops, 2010s made strides semiconductors medical equipment
Not Rated Yet