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toshiba

Toshiba chief executive resigns over scandal

Toshiba’s chief executive and president Hisao Tanaka has resigned after the company said it had overstated its profits for the past six years. He will be succeeded by chairman Masashi Muromachi, with vice-chairman Norio Sasaki also stepping down. On Monday, an independent panel appointed by Toshiba said the firm had overstated its operating profit by a total of 151.8bn yen ($1.22bn, £780m). The overstatement was roughly triple an initial estimate by Toshiba. [caption id="attachment_18310" align="alignright" width="624"]toshiba Toshiba has been facing comp...

Japanese firms expanding their reach in South Asia

Bangladesh, the world’s eighth most populous country with approximately 158 million people, is witnessing an economic growth rate surpassing five percent for the past ten years. The economy is expected to continue to grow and present many business opportunities. In one of the office buildings at Gulshan crossing in central Dhaka, the work is on for construction of a new branch office for Toshiba, the first Japanese electronics company to have a branch in Bangladesh. Toshiba-HQ-bldg1Sayaka Kanagawa, who joined Toshiba in 2008, has...