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Toshiba seen lopping more than 150bn yen off past profits

TOKYO -- Toshiba expects to downgrade past earnings by more than 150 billion yen ($1.21 billion), a much larger sum than previously reported in part because of accounting irregularities related to computer parts procurement, sources said Friday.

     The impact of the bookkeeping issues is equivalent to more than 10% of total group operating profit of 1.04 trillion yen for the five years through fiscal 2013. Although the revisions are unlikely to change any single year's results from a profit to a loss, the adjustments will be significant.

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