Toshiba boss takes the blame for doctored books

Toshiba’s chief executive has resigned, taking responsibility for doctored books that inflated profits at the Japanese technology manufacturer by €1.12 billion over several years.

Toshiba acknowledged a systematic cover-up, which began in 2008.

Various parts of the Japanese company’s sprawling business including computer chips and personal computers were struggling financially, but top managers set unrealistic earnings targets under the banner of “challenge”, and subordinates faked results.