Toshiba 2015 Annual Report Download - page 9

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(Billions of yen
)
FY2008 FY2009 FY2010 FY2011 FY2012 FY2013 FY2014
(1–3Q cumulative)
Cumulative
(2008–14/3Q)
(Before correction)
Income (loss) before
income taxes –259.7 27.2 194.7 145.4 159.6 180.9 134.9 583.0
Percentage-of-
completion method –3.6 0.1 7.0 –7.9 –18.0 –24.5 –1.0 –47.9
Recording of operating
expenses, etc. in the
visual products business –5.3 –7.8 –6.5 12.7 –2.8 0.8 2.8 –6.1
Component transactions,
etc. in the PC business
–19.8 –28.6 11.3 –22.3 –28.1 10.4 19.3 –57.8
Valuation of inventory,
etc. in the
semiconductor business 0.0 –4.4 –1.6 –10.3 –36.6 16.3 –0.5 –37.1
Self-check, etc. –6.0 –3.8 –3.4 –7.3 –12.9 –12.2 16.2 –29.4
Amount for impairment
of fixed assets
(incl. effect of depreciation/gain
(loss) on sale or disposal)
–41.7 3.0 0.3 –48.9 13.7 10.6 16.5 –46.5
Total amount of
correction –76.4 –41.5 7.1 –84.0 –84.7 1.4 53.3 –224.8
(After correction)
Income (loss) before
income taxes –336.1 –14.3 201.8 61.4 74.9 182.3 188.2 358.2
Income (Loss) before Income Taxes
Restatement of Past Financial Results and Eects of Restatement (by element)
In response to the results of the investigation by the Independent Investigation Committee, and eective as of July 21, 2015,
Hisao Tanaka, Representative Executive Ocer, President and Chief Executive Ocer and Director; Norio Sasaki, Vice Chairman of
the Board and Director; Hidejiro Shimomitsu, Representative Executive Ocer, Corporate Senior Executive Vice President and
Director; Masahiko Fukakushi, Representative Executive Ocer, Corporate Senior Executive Vice President and Director; Kiyoshi
Kobayashi, Representative Executive Officer, Corporate Senior Executive Vice President and Director; Toshio Masaki,
Representative Executive Ocer, Corporate Senior Executive Vice President and Director; and Makoto Kubo, Chairman of the
Audit Committee and Director, all resigned from their positions in the Company; and Keizo Maeda, Representative Executive
Ocer, Corporate Executive Vice President and Director, resigned from his positions as Representative Executive Ocer and
Director. In addition, Atsutoshi Nishida, Adviser to the Board, resigned from his position as of the same day.
Further, Masaaki Osumi, Executive Ocer and Corporate Senior Vice President, resigned as of July 29, 2015; Keizo Maeda,
Executive Officer and Corporate Executive Vice President, resigned as of August 31; and partial reductions in monthly
compensation were implemented for directors (including outside directors) and executive ocers.
On the other hand, the Company established the Executive Liability Investigation Committee on September 17, 2015. The
Executive Liability Investigation Committee consists of fair and impartial legal experts who do not have any interests in relation to
current
and former directors and executive ocers, in order for the Company to make an appropriate and fair judgment on whether
current and former directors and executive officers of the Company bear liability for negligence in their duties related to the
inappropriate accounting, and whether the Company should enforce liability against current and former directors and executive
ocers.
3. Action taken to clarify managerial responsibility
08
TOSHIBA Annual Report 2015