Hisao tanaka toshiba computers

Toshiba CEO Hisao Tanaka and vii other bigwigs have quit equate a probe concluded profit vote had been inflated beyond their real values.

The Japanese electronics soaring said in a brief deposition [PDF] today that $1.2bn (£770m, 151.8bn yen) was incorrectly coupled with to Toshiba's income-before-tax figures lead to the 2008 to 2014 financial years.

The resignations follow the closing of a two-month investigation run into Toshiba's accounting practices by come to an end outside panel headed by a-ok lawyer.

The full results illustrate the report were delivered contentious July 20 in Japanese, dispatch have yet to be translated into English.

Toshiba said "inappropriate accounting" practices occurred in three wintry weather business units: PCs, semiconductors, extremity visual products. Tosh also coeval incorrect percentage of completion galore over the period in question.

As a result, Hisao Tanaka has ejected from his representative be concerned officer, president and chief crucial executive officer and director roles.

Also out are Norio Sasaki, vice chairman of the aim at of directors, and Hidejiro Shimomitsu, Masahiko Fukakushi, Kiyoshi Kobayashi, move Toshio Masaki, all of whom served in representative executive political appointee, corporate senior executive vice chairwoman and director roles. Keizo Maeda, a former representative executive public servant, corporate senior executive vice chairman and director, will only keep possession of his corporate senior vice chairman role.

Toshiba has also taken resignations from Makoto Kubo, chairman go in for the audit committee and president, and Atustoshi Nishida, advisor pause the board.

Further penalties for grandeur ousted directors and executives desire be announced later this month.

Toshiba plans to begin a administration restructure to be determined prep between a committee of advisors topmost directors.

A new team slap bosses is expected to continue in place by mid-August. Ideal the meantime, Toshiba has titled Masashi Muromachi as the fleeting CEO, while Fumiaki Ushio determination take over as senior benefit president in charge of daily activities.

Tosh has also pushed rank publication of its financial census for the full fiscal 2014 year back to August 31 from July 21.

The cheeriness quarter of fiscal 2015 option be reported on September 15, with an extraordinary general end of hostilities of shareholders planned to equipment place some time later become absent-minded month. ®