This combined with an introverted national culture that encourages the various companies fight each other (eg: Toshiba vs. Sony vs. Panasonic) rather than stand together and face the global market, and Japan has lost nearly every single thing they once achieved the top spot in. Government corruption, as was the case here, is icing on the cake.
I say again: Nothing of value was lost here; any value Toshiba had they already threw away decades ago.
Also, I'm Japanese. I call dibs when it comes to (justifiably!) trash talking my heritage.
[1]: https://en.wikipedia.org/wiki/Fujio_Masuoka
[2]: Masuoka and colleagues presented the invention of NOR flash in 1984, and then NAND flash at the IEEE 1987 International Electron Devices Meeting (IEDM) held in San Francisco. Toshiba commercially launched NAND flash memory in 1987. Toshiba gave Masuoka a few hundred dollar bonus for the invention, and later tried to demote him. But it was American company Intel which made billions of dollars in sales on related technology. Toshiba press department told Forbes that it was Intel that invented flash memory.