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Mitsubishi UFJ Assurance and Banking Corp. and an affiliated assurance coffer plan to sue scandal-ridden Toshiba Corp. for ¥1 billion over losses incurred from a above accounting aspersion that beatific its allotment amount plummeting, a antecedent abutting to the amount said Monday.



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The abeyant accusation comes as Toshiba scrambles to acknowledge to agitation at its U.S. nuclear business, which is staring at a accident of ¥700 billion, and to acquisition a third affair accommodating to action a basic injection.

If Toshiba were to lose the lawsuit, it would accomplish its turnaround efforts alike added arduous.

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Mitsubishi UFJ Assurance and associate Master Assurance Coffer of Japan are advancing to accordingly book the accusation at the Tokyo District Court in backward March, the antecedent said.



They are acceptable to affirmation they suffered losses from the attempt in Toshiba’s allotment amount acquired back the electronics giant’s accounting troubles alike in 2015.

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Earlier this month, the assurance banks began allegorical clients, including alimony funds, about the planned lawsuit.

Those because filing agnate lawsuits accommodate Japan Trustee Services Bank, an associate of Sumitomo Mitsui Assurance Holdings and Resona Bank, as able-bodied as Assurance & Custody Services Bank, a accessory of Mizuho Financial Group Inc.

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The Government Alimony Investment Fund has already alongside sued Toshiba, with Japan Trustee Services Bank, which holds Toshiba shares on account of GPIF, gluttonous amercement of about ¥13 billion in a accusation filed with the Tokyo District Court.

Toshiba beneath to animadversion on the latest accusation report.

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