--- description: The Japanese electronics company Toshiba has been plunged into a crisis, with several board members expected to step down in September. title: Toshiba’s CEO Stepping Down Over an Accounting Scandal image: https://static.time.com/v3/assets/bltea6093859af6183b/blt2feed41af49d49fa/69885ae6e20a876e17a8c4a6/gettyimages-473543692.jpg?branch=production&width=3840&quality=75&auto=webp&crop=16:9 ---  * [Business](/section/business/) ## Business Update your preferences in [Account Settings](/account/preferences/) Close # Toshiba’s CEO Is Stepping Down Over an Accounting Scandal by [Jonathan Chew / Fortune](/author/fortune/) ## Jonathan Chew / Fortune Update your preferences in [Account Settings](/account/preferences/) Close Jul 15, 2015 1:49 PM CUT  Hisao Tanaka, president and chief executive officer of Toshiba. Hisao Tanaka, president and chief executive officer of Toshiba.Kiyoshi Ota—© 2015 Bloomberg Finance LP by [Jonathan Chew / Fortune](/author/fortune/) ## Jonathan Chew / Fortune Update your preferences in [Account Settings](/account/preferences/) Close Jul 15, 2015 1:49 PM CUT Accounting irregularities have plunged the Japanese conglomerate company Toshiba into a crisis, with several key board members stepping down, including CEO Hisao Tanaka. Other executives expected to leave Toshiba around September include Norio Sasaki, who is currently vice chairman and a former president. The Japanese company has also hired a third-party committee to investigate past book-keeping practices that have inflated profits by more than $1 billion, sources told [Reuters](http://www.reuters.com/article/2015/07/15/us-toshiba-accounting-moves-idUSKCN0PP05J20150715 "undefined"). The move comes as Prime Minister Shinzo Abe is set to crack down on misbehaving corporations in a bid to attract more foreign investors to jumpstart the struggling Japanese economy, reported [_The Wall Street Journal_](http://www.wsj.com/articles/toshiba-executives-expected-to-step-down-over-accounting-scandal-1436870307 "undefined"). In April, Toshiba — the maker of electronic products such as laptops and computer chips — [disclosed](http://www.reuters.com/article/2015/04/06/us-toshiba-accounting-idUSKBN0MX0BK20150406 "undefined") that it may have underreported the costs of some infrastructure projects starting April 2013\. This after the company had found in October 2013 that one of its subsidiaries, Toshiba Medical information Systems, had overstated results for several years. An independent panel is expected to issue a report on the scandal in the coming days, _the Journal_ reported. ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/3958505/toshiba-ceo-accounting-scandal/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/3958505/toshiba-ceo-accounting-scandal/"},"headline":"Toshiba’s CEO Is Stepping Down Over an Accounting Scandal","datePublished":"2015-07-15T13:49:37.000Z","dateModified":"2026-04-13T08:05:59.870Z","description":"The Japanese company might have inflated profits by $1 billion","url":"https://time.com/3958505/toshiba-ceo-accounting-scandal/","keywords":["Tech","Shinzo Abe","pubdesk"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt2feed41af49d49fa/69885ae6e20a876e17a8c4a6/gettyimages-473543692.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Jonathan Chew / Fortune"}],"articleSection":"Business","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt2feed41af49d49fa/69885ae6e20a876e17a8c4a6/gettyimages-473543692.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"gettyimages-473543692","caption":"Hisao Tanaka, president and chief executive officer of Toshiba Corp., pauses during a news conference at the company's headquarters in Tokyo, Japan, on Friday, May 15, 2015. Toshiba Corp. named two lawyers and two certified public accountants to a third-","creditText":"Kiyoshi Ota—© 2015 Bloomberg Finance LP","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/business/","name":"Business"}},{"@type":"ListItem","position":2,"item":{"@id":"https://time.com/3958505/toshiba-ceo-accounting-scandal/","name":"Toshiba’s CEO Is Stepping Down Over an Accounting Scandal"}}]}] ```