Toshiba: Japan trunk bank sues it for $120 million over accounting scandal

08/25/2016 22:33

TOKYO (Reuters) - Toshiba Corp <6502.T> said on Friday a Japanese trust bank was suing it for 12 billion yen ($119 million) for losses stemming from the company's $1.3 billion accounting scandal last year.

Japan Trustee Services Bank had filed the suit with the Tokyo District Court on Aug. 9, the technology and industrial conglomerate said in a statement.

Toshiba said it would set aside a "reasonable" amount of cash to cover any damages and would revise its earnings guidance as needed.

(Reporting by Chang-Ran Kim; Editing by Richard Pullin)

08/25/2016 22:33

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