July 21, 2015 / 2:10 AM / in 2 years

Toshiba accounting problems 'very regrettable': Japan finance minister

TOKYO (Reuters) - Japanese Finance Minister Taro Aso said on Tuesday revelations of accounting problems at Toshiba Corp were “very regrettable”, adding they could lead to a loss of confidence in the country’s corporate governance and stock market.

Pedestrians walk past a logo of Toshiba Corp outside an electronics retailer in Tokyo, Japan, June 25, 2015. REUTERS/Yuya Shino

Aso made the remark after a third-party committee hired by the electronics maker to look into accounting irregularities found that the company had overstated its operating profit by 151.8 billion yen ($1.22 billion) over several years.

“If (Japan) fails to implement appropriate corporate governance, it could lose market trust ... It’s very regrettable,” said Aso, who also serves as financial services minister. He declined to comment on how the securities watchdog would deal with the issue.

Reporting by Tetsushi Kajimoto; Editing by Chang-Ran Kim

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