TOKYO -- A series of fictitious transactions worth more than 40 billion yen ($365 million) that inflated sales at a Toshiba subsidiary was led by a system developer listed on the Tokyo Stock Exchange's first section, it was learned Friday.
The scheme, which began as recently as 2015, involved bogus purchases of equipment from Net One Systems by companies including Toshiba IT-Services, which were supposed to deliver the products via Nippon Steel unit NS Solutions to public-sector customers, sources familiar with the situation said.
