Current president Satoshi Tsunakawa, who was promoted in 2016 following an accounting scandal, would resign and become non-executive chairman from April, Toshiba said in a statement on Saturday. However, Toshiba is unable to confirm as much as ￥20 billion in sales at a subsidiary involving “suspicious transactions,” the electronics conglomerate said. An internal investigation found that some transactions at Toshiba IT-Services Corp, a wholly owned subsidiary of yet another unit called Toshiba Digital Services Corp, could not be confirmed, the company said in the statement. “The final impact on profit and revenue as well as facts relating to suspicious transactions are subject to further investigation,” it said. Toshiba Machine Co, an independent company that retains the former parent’s name and is the second-largest NuFlare stockholder, has said it would sell its 15.8 percent stake to Toshiba.

Source: Taipei Times January 19, 2020 15:56 UTC