Hisao Tanaka News

Hisao Tanaka and vice chairman Norio Sasaki -- also a former president -- were the most senior to step down after an independent report found top management complicit in a years-long scheme to pad profits.

CEO and President Hisao Tanaka will be replaced by Chairman Masashi Muromachi effective Wednesday, the company said in a statement, adding it was considering appointing outside directors to over half of its board seats.

Japanese Finance Minister Taro Aso said accounting irregularities at Toshiba Corp were "very regrettable", coming at a time when Japan is trying to regain global investors` confidence with better corporate governance.

Toshiba expects to take up to $3 billion in charges related to six years of improper accounting.

Toshiba Corp expects $2.4-3.2 billion in charges related to improper accounting in an expanding probe that is set to force Chief Executive Hisao Tanaka to step down,

Toshiba Corp expects 300-400 billion yen ($2.4-3.2 billion) in charges related to improper accounting in an expanding probe that is set to force Chief Executive Hisao Tanaka to step down, sources familiar with the matter said on Wednesday. 

Toshiba Corp Chief Executive Hisao Tanaka is likely to step down in September to take responsibility for accounting irregularities at the Japanese conglomerate, the Nikkei business daily reported.

Toshiba Corp will file its annual report up to two months later than usual as an ongoing independent investigation into accounting irregularities will likely last until mid-July, the Japanese conglomerate said on Friday.

Toshiba Corp will decide during the next business year from April on where to build an additional memory chip plant and will consider overseas locations for the facility, Chief Executive Hisao Tanaka said on Friday.