Toshiba's $1.2 Billion Accounting Fraud Explained

[@davidjma7226]

I am a Marketing Director with 35 yrs MNC experience. People think Marketing types are creative...... we've got nothing on the Accounting profession! They wave a hand according to GAAP and expenses get capitalised and/or minimised in a flash! One tried to even capitalise the cost of advertising production!

[@luvadougla]

😂😂😂😂 accountants make Houdini cry

[@maxsanchez-financeproducti8566]

It's insane how many great quality videos you're pumping out every single day. Keep em coming!

[@ChosenOne6666]

Brown nosing much comrade.

[@dv6808]

@@ChosenOne6666 butt hurt much? WSM is rly pumping out great content, and he deserves all the praise.

[@maxsanchez-financeproducti8566]

@@ChosenOne6666 Not really. I just know the amount of work that goes into writing, filming, and editing. Making 3 videos per day every single day and maintaining the level of quality is a big achievement. That's why I'm congratulating them. I don't know why that bothers you so much.

[@ChosenOne6666]

@@maxsanchez-financeproducti8566 Its super cheesy to be brown nosing

[@michaelmoses8745]

Every company seems to engage in fraud these days. I wonder how many are not caught as of yet.

[@tomlxyz]

Can you not generalize without justification

[@anonymousanonymous4690]

What are you talking about it’s been happening since the first company form it’s happening everywhere

[@prodbytytaan]

Amazon lol

[@stjojokaras9363]

Toshiba is known as the first NoteBook PC (called Dynabook) manufacturer in the world in 1980's. Toshiba gave away Dynabooks to many software vendors in Japan, including my software company. Good old days.

[@Libertarianmobius1]

Whats the name of your company? Located in japan? How is the Japanese business culture compared to the U.S?

[@ChosenOne6666]

Toshiba was banned 1987 in the United states for selling sophisticated machinery to the Soviet Union that allowed Moscow to make its submarines quiet enough to avoid detection.

[@fangdog29]

Forced tech transfer occurred from Japanese firms to American firms, permanently taking away Japanese competitive advantage that took decades to be established. You can Google images of AMERICAN congressmen breaking JVC stereos outside the Capitol(Edit: spelling error)

[@joemammon6149]

So Toshiba was like Huawei for a while. nice.

[@ChosenOne6666]

@@joemammon6149 No. Toshiba is Japanese

[@kennyly7502]

Moderator of KZbin that's not what joe meant.....

[@ChosenOne6666]

@@kennyly7502 Ken my dude... China is inferior to the Japanese.

[@luvadougla]

All of this fraud but they just getaway with a resignation 😐😐😐😐😐😐

[@seanwieland9763]

2:08 I’d forgotten about SED. It was supposed to be the best of CRT brightness and sharpness while still flat like LCD or plasma displays.

[@marklawes1859]

No one faced charges. That is what sickens me every time.

[@fasthandsz]

4:35 couldn’t stop laughing at his expression

[@luckyjayakody]

Man, its hard to find a clean business these days. It seems many businesses have at least one dark secret being discussed in their closed board rooms.

[@xr.spedtech]

Well, their hard-drive products was decent I respected them for that ....

[@billschannel1116]

In this video I first mistakenly heard the fraud was for one million, not 1 billion. And my immediate thought was "What? Did someone at Toshiba forget to turn off the lights when they went home?"

[@xxmyyoursxx123]

Keep up the content loving it and have recommended to many friends

[@mrrolandlawrence]

I worked at a japenese bank where they over valued things like desktop computers. adding a few hundred percent to the value. this helped in an overly high valuation of the business...

[@CornellSandifer]

That old wise tale will always be true "Stand for something or you'll fall for anything"

[@udaan2001]

Well said.... Standing for values is hard & testing and not for ordinary.

[@prabinneupane850]

My first laptop was Toshiba satellite and would buy more if only they made new . Rip TOSHIBA Laptops

[@serenitynow1364]

Me too! I moved to MacBooks, no other laptops can come closer.

[@djpuplex]

4:42 I have the same look on my face when I take a loss

[@kkent4174]

I remember working as a vendor for a few tech companies. 2015ish or so they made a comeback with laptops. Bright back satellites looked nice. But they kept getting returned. One day I went into all my locations and all Toshiba products were pulled. I see there TVs here and there.

[@JustJamesDean]

8.00 The financial statement is "Y in Billions", so I take it that's 3054 Billion Yen in sales and 251 Billion yet profit

[@GradyBaby13]

si

[@londondisc]

Very explanatory videos. However you place all the blame on the directors and nothing on the auditors. Yes, the directors are responsible for preparing the accounts by the same principle Auditors are responsible for checking them. Auditors state their audit is not meant to disclose a fraud however not to such a huge scale. In my time as a senior executive in a number of companies and dealing with auditors, I came to the conclusion that an audited report gave credibility to the accounts where None existed. I later discovered the reason for this however I will not go into this as a short note on KZbin. Many commentators blame Chinese for not having proper Audited accounts etc. however the system in the West is far worse, unimaginable really.

[@yosuke19841]

Check Mitsubishi Electric as well. They are currently burning.

[@Connor-vj7vf]

8:01 you've highlighted earnings per share. Not profits per share or company wide as you said

[@thirdunderwood]

We had three of those exact Toshiba cathode Ray TVs when I was growing up

[@hashim.trades]

Where did you find the information about the financial project that toshiba fabricated that was worth 54.5 million yen in 2007?

[@2GreedyT4]

Damn. 3:39 , that’s some serious piping in that room .

[@YO-pf3pq]

at least they didn't steal money from within the company.

[@phublham6589]

why did Toshiba's internal audit function fail?

[@nadeemchaudhry6585]

Another good video, would of been to good to know if one of the big four where involved, somewhere along the line.

[@glitchexcity]

Do you have source on the two projects you mentioned in the scandal the one with 54.5 billion yen and the US project one

[@Sabundy]

It's really sad just how far Toshiba has fallen. But they also really have no one to blame but themselves. They did a lot of things they never should have been doing, and they made some very poor business decisions. Toshiba used to be such a giant of a name in consumer appliances and electronics

[@jont2576]

1.2 billion is chump change for Toshiba....it could honestly be an accounting mistake or at best minor theft,like a 13 year old boy stealing out of mummy's purse and lieing about it. I mean how many hundreds of millions go missing every year in mega corporations due to accounting "errors"

[@jessealexander9074]

Great video

[@MikaylaRose420]

So this is why I never see Toshiba laptops anymore.

[@RobertK1993]

HD DVD bankrupt them also.

[@djagad]

Thank for info

[@yuranutui]

thank you

[@jordantwh]

9:08 Signing..... Signing what?

[@reahs4815]

He said "signing out"

[@mh-rl4sz]

and now it is delistsed from Tokyo stock exchange after 74 years

[@colofsco1]

The guy in the thumbnail looks like Mark Wahlberg.

[@Mr1159pm]

Nobody committed harakiri?

[@ajmaeenmahtab8456]

People with good soft skills and smooth talkers are all scammers.

[@d63810728]

u guys remember olympus? similar story, to save face

[@dbooker2468]

Yeah... take a look at the automotive sector of Japan.. just saying

[@robertwhitten265]

54 billion Yen does not equal to 1 billion USD, not even close.

[@absi1155]

It’s funny how this world works 😂😂😂

[@ArchieLewis]

Please get a new mic the second time saying it now your views will greatly increase still great content though!!

[@wallstreetmillennial]

Problem's really with the acoustics in the room, tried 3 different mics now... we'll get a dedicated studio room in September but until then we'll try to figure out a way to make it bearable. Thanks for watching!

[@derangedrebel3898]

@@wallstreetmillennial you can hang blankets up for a quick sound deadening measure.

[@paulbryan6716]

sounds like mark-to-market.

[@javajav3004]

Tragic

[@sumitskale]

Nice info. But talk slowly

[@hydrohasspoken6227]

👍

[@smokintruker27]

I bought a Toshiba laptop it was the biggest piece of crap I ever owned. With in 1 1/2 yrs I had the keyboard changed 3 times. Total junk

[@johnzacharias8630]

Toshsh ,!

[@hydrohasspoken6227]

😄

[@MsKelvin99]

first one here

[@michaelmoses8745]

This is actually true.

[@playtoyx]

I am also first

[@Citinited]

First but 3 down

[@Poeticgeenius]

See lying has never been the actual route to make big money...lawl they must Repent and read the bible and ask for wisdom🙏

[@vengefulspirit99]

The Bible is a book full of lies and jealousy.

[@paradiseexpress3639]

@@vengefulspirit99 Heretic!

[@Poeticgeenius]

@@vengefulspirit99 where your facts ???

[@vengefulspirit99]

@@paradiseexpress3639 Guess what? Anyone who wears clothes with buttons, is a heretic as well! We'll all meet up in hell

[@paradiseexpress3639]

@@vengefulspirit99 THATS WHY I DONT WEAR CLOTHES WITH BUTTONS I HAVE A ZIPPER