In 2015, one of Japan’s oldest and most established corporations admitted to overstating its profits by nearly $2 billion dollars over the past 7 years (Addady 2015). According to CNN’s Andrew Stevens, investigators claimed that the corporate culture which existed at Toshiba discouraged and intimidated employees from going against the bosses will. As a result, employees were reluctant to speak or act out against the CEO’s inflating its earnings to reach ambitious targets. When this scandal was revealed to the public, billions of dollars were wiped off the share price. Additionally, Toshiba’s reputation took a major hit.
https://www.fortune.com/2018/09/08/toshiba-accounting-scandal/