Trust banks plan to file for Toshiba to court because of the scandal with the reporting that took place in 2015

Troubles do not leave the Toshiba. As soon as the manufacturer has approved the plan of allocation of production chips in the independent enterprise with the subsequent sale of parts designed to at least partly compensate for a bad work of the American division of the company working in the field of nuclear energy, as it became known that the Japanese trust banks are going to file for Toshiba to court. Their plans are connected with the scandal reporting, thundered in 2015. Recall guide Toshiba inflated operating profit of the company for six years. When the fraud was discovered, the Japanese manufacturer had to resort to restructuring and the sale of certain assets to remedy the situation and to cover the huge shortage.

Bank Mitsubishi UFJ Trust and Banking has announced that he intends to demand through court of compensation for their clients pension funds. The Bank is a subsidiary of Mitsubishi UFJ Financial Group.

Two other Bank — Sumitomo Mitsui Trust Bank and Mizuho Trust & Banking — are also preparing similar lawsuits. Although the banks themselves about this and have not reported, a source claims to have received reliable information from an informant who wished to remain anonymous.

In the autumn of last year, Toshiba already had filed a similar lawsuit on behalf of 45 institutional investors, and earlier claims of 15 groups and individuals.

Source: Reuters



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