Japan's Financial Services Agency: Commencement Of A Hearing Procedure Regarding Administrative Monetary Penalty Payment Order Against Ernst & Young ShinNihon LLC

On December 22, 2015, the FSA decided, pursuant to Article 34-21-2(1)(ii) of the Certified Public Accountants Act, to commence a hearing procedure regarding administrative monetary penalty payment order of 2,111 million yen against Ernst & Young ShinNihon LLC ("the firm"). The reason for the action is that partners of the firm had, in negligence of due care, attested that the financial statements of TOSHIBA CORPORATION for FY2011 and FY2012 (for years that ended March 31, 2012 and 2013) containing material misstatements as if they contained no material misstatements.