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

August 25, 2016 10:33 PM EDT

A man walks past a Toshiba Corp logo displayed on one of its television sets in Tokyo, Japan, November 26, 2015. REUTERS/Toru Hanai/File Photo

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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)

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