TOKYO: Toshiba said on Monday it would book a $318 million annual loss to account for a billion dollar profit-padding scandal that hammered the reputation of one of Japan’s best-known firms.
The vast 140-year-old conglomerate said that its shortfall for the year to March 2015 would be 37.8 billion yen ($318 million), reversing a previously expected 120 billion yen annual profit.
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