TOSHIBA controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
Back to profile7 entries
2021
Ransomware attack on Toshiba TFIS
Issue disclosure
Toshiba TFIS said it was hacked by DarkSide ransomware on May 4. Toshiba said the attack was limited to part of Europe and hackers did not access client data; Toshiba TFIS said it detected no data leak.
Source excerpt
The company said it did not detect any data leak, though social media images of a DarkSide statement show the group claimed to have made a trove of information public.
The Japanese conglomerate said in a separate statement that the attack was limited to part of Europe and the hackers did not get access to client data.
Toshiba TFIS, which specialises in printers, was “hacked on May 4 by DarkSide ransomware which had already attacked numerous companies of all sizes”, the company said in a statement.
2019
Toshiba sues former employee over alleged fraud
Lawsuit filed
Toshiba said it filed a lawsuit against a former employee of a US unit, alleging that the employee conspired with a contractor and defrauded the company. Toshiba said its internal assessment found evidence of inflated construction prices and kickbacks, and that it was still investigating the scale of the damages and whether other employees were involved.
Company response
Investigation — Toshiba
Toshiba is still investigating the scale of damages from the fraudulent transactions, which started no later than 2011, as well as whether any other employees were involved in the fraud.
Source excerpt
Toshiba said in a statement its internal assessment had found evidence that a former facility manager at Houston-based Toshiba International directed work to a construction contractor at inflated prices and received kickbacks.
Toshiba Corp said on Thursday it filed a lawsuit against a former employee of a US unit for conspiring with a contractor and defrauding the Japanese industrial conglomerate.
2017
Westinghouse nuclear losses and financial crisis
Cost overruns and losses associated with Toshiba’s Westinghouse nuclear business placed severe pressure on the parent company. Westinghouse entered bankruptcy protection, while Toshiba was forced into asset sales and a major capital raising to address balance-sheet stress.
2015
Toshiba accounting scandal
An independent investigation found that Toshiba had overstated profits through improper accounting practices over several years. The scandal led to management departures, revised financial reporting, regulatory scrutiny, and a prolonged restructuring. Toshiba acknowledged accounting irregularities involving the recognition and presentation of profits and the pressure placed on business units to meet performance targets. The affair led to executive resignations, board changes, investigations, and substantial damage to the company's reputation and finances. An independent investigation found that Toshiba had used inappropriate accounting practices that overstated profits across several businesses. The disclosure led to executive resignations, regulatory attention, reputational damage and a reassessment of the company’s governance and internal controls.
2012
LCD panel price-fixing allegations
Toshiba faced allegations concerning coordination of LCD-panel prices in the United States and joined a settlement with other manufacturers.
1987
Toshiba-Kongsberg export-control scandal
Toshiba Machine and Norway’s Kongsberg were accused of supplying restricted computer-controlled milling technology to the Soviet Union. The case caused diplomatic tension, prosecutions, and sanctions involving Japan and the United States.
1987
Toshiba Machine export-control controversy
Toshiba Machine, a Toshiba-affiliated company, was accused of illegally selling precision multi-axis machine tools, numerical-control equipment, and software to the Soviet Union. The equipment was reported to have potential military use in submarine manufacturing and the episode became a major export-control controversy.