TOKYO (AP) — An outsider tapped to lead scandal-tarnished Japanese electronics company Toshiba Corp. is promising a turnaround in five years by reshaping its operations.

Nobuaki Kurumatani, the first outsider to be appointed chief executive at Toshiba in more than half a century, acknowledged corporate governance had been weak.

He told reporters Tuesday at Toshiba's Tokyo headquarters that he brought his experience in the financial sector, where compliance controls are tougher.

Toshiba has been embroiled in an accounting scandal involving the massive doctoring of books.

It also racked up heavy losses in its nuclear business and is selling its lucrative computer-chip business to avoid going belly-up.

At the center of the losses is the acquisition of CB&I Stone & Webster by its U.S. nuclear unit Westinghouse, which filed for bankruptcy protection last year.