Toshiba also cut full-year operating income estimates.
Toshiba said quarterly operating profit fell 88 per cent to ¥5.3b, far below a consensus estimate of ¥37b.
The Financial Times said 57-year-old Yanase resigned after auditors found he repeatedly submitted entertainment expenses without reporting the names of attendees.
That was a violation of company rules, the FT reported.
The alleged misbehaviour reportedly happened when Yanase was a Toshiba subsidiary board member in 2019, before his role as COO.
Yanase’s profile was still on Toshiba’s global website today, where he was described as a current director.
According to the website, he joined the company in 1991.
In 2021, top Toshiba executive Nobuaki Kurumatani resigned.
According to the New York Times, his resignation happened soon after a shareholder-initiated investigation into Toshiba management practices.
Toshiba in late 2021 said it was restructuring, and announced a plan to spin off its energy infrastructure and computer devices businesses.
In March last year, Satoshi Tsunakawa resigned as chief executive.
“We feel strongly that there is an urgent need to transform the company,” Toshiba chair Akihiro Watanabe said this week.
Toshiba was now mulling a NZ$23.7b buyout proposal from a consortium led by a Japanese private equity firm.
The Financial Times said that would be Japan’s largest take-private deal.
