Itochu Corporation – Glaucus Research

In 2015, Toshiba Corp. (TYO: 6502) admitted to deliberately manipulating its accounting policies in order to overstate its profits by USD 1.2 billion (¥152 billion) from FY 2008 to 2014. Toshiba’s stock declined 70%, Japanese securities regulators imposed a record fine, and Toshiba’s CEO and 8 of its 16 board members resigned in disgrace. The Tokyo Stock Exchange even placed Toshiba’s stock “on alert,” raising the possibility that the Company’s stock could be delisted if it failed to correct deficiencies in its corporate governance.

Company Name
Ticker
Investment Thesis
Exchange
Initiation Date
Initiation Market Cap (in USDmm)
Initiation Avg Volume (Shares per day)
Price at Initiation
Price Target
Current Price
% Change
Itochu Corporation – Glaucus Research
8001.TYO
fraud
tse
7/27/2016
$20,026
4,000,000
JPY 1262
JPY 631