• Email More Options Modal Window

  • Notice on Actions for Compensatory Damages Filed Against Toshiba

    April 20, 2017
    Toshiba Corporation

    TOKYO— Toshiba Corporation (TOKYO: 6502)(the “Company”) hereby gives notice that two actions for compensatory damages in relation to
    the accounting issue (“Actions”) were today filed against the Company, which has received the complaints pertaining to the Actions.


    In addition, the Company also herewith gives notification, as in 2. below, on the status of other actions for compensatory damagesfiled against the Company in Japan in relation to the accounting issue.

    1.Outline of Actions Actions against the Company were filed with the Tokyo District Court by four shareholders, all Japanese corporate shareholders, seeking compensatory damages in the amount of 5,115,911,395 yen and 13,133,064,492 yen, on the grounds of damages incurred due to the Company’s inappropriate accounting. The Company was served with the complaints today. The Company will handle the matter appropriately after taking into account the plaintiffs’ assertions in the Actions, and intends to record a provision for a reasonably estimable amount, which has not yet been determined.

    2. Status of other actions for compensatory damages in Japan
    As announced by the Company in its October 13, 2016 announcement, “ Notice on an Action for Compensatory Damages Filed Against Toshiba,”in addition to the Actions, other actions have been filed in Japan seeking compensatory damages in relation to the accounting issue.

    The outline of each of these actions is as described in the table attached below. As of today, other than the Actions, the Company has been served with 18 complaints, including the 16 actions announced on October 13, 2016, and the amount sought in these actions is approximately 32 billion yen.

    In relation to these actions, the Company has recorded provisions for a reasonably estimable amount, as required for accounting purposes.