By Takahiko Wada TOKYO (Reuters) – Japan's securities watchdog will recommend that Toshiba Corp should be fined 7.37 billion yen ($ 59.84 million) for accounting violations, a person familiar with the process told Reuters on Saturday. The source said the Securities and Exchange Surveillance Commission will make the recommendation, which would be a record fine for accounting violations, to the Financial Services Agency on Monday. Toshiba, whose business spans household electronics to nuclear power, has said it inflated profits by about 155 billion yen ($ 1.26 billion) in a period spanning about seven years.
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