A request to block Toshiba from raising much-needed cash by selling a flash memory venture was taken off the table on Friday in a California court. Toshiba and Western Digital agreed to an order recommended by a state court judge who asked the companies to collaborate on an agreement instead of dueling over an injunction … Read more
Japan’s Kashima Antlers have sacked manager Masatada Ishii five months after he steered them to the Club World Cup final, officials said Wednesday. The 50-year-old was dismissed after Kashima beat China’s Guangzhou Evergrande 2-1 in the last 16 of the Asian Champions League on Tuesday, only to crash out of the competition on away goals. … Read more
Tech giant Apple is considering backing Hon Hai’s multi-billion dollar bid for Toshiba’s lucrative memory chip business, a report said Saturday. The US firm plans to financially support Taiwan’s Hon Hai, which has reportedly bid some 3 trillion yen ($27.6 billion) in the initial tendering round for the memory chip business, the Mainichi Shimbun said. … Read more
Toshiba has filed its delayed financial results, warning that the company’s survival is at risk. “There are material events and conditions that raise substantial doubt about the company’s ability to continue as a going concern,” the company said in a statement. The electronics-to-construction giant reported a loss of 532bn yen (£3.8bn; $4.8bn) for April to … Read more
Toshiba has filed its delayed financial results, warning that the company’s survival is at risk. The electronics-to-construction conglomerate made a loss of $4.8bn for April to December, the AFP agency said. “There are events and circumstances that may bring about significant questions about the idea of [carrying on] as a going concern,” the firm said … Read more
Toshiba on Tuesday warned its survival was at risk as the struggling Japanese industrial giant reported a loss of $4.8 billion in long-overdue financial results. One of the country’s best-known firms, Toshiba had twice delayed its earnings and faced the possibility of an embarrassing delisting from the Tokyo stock exchange if it missed the Tuesday … Read more
Toshiba faced a deadline Tuesday to publish a long-overdue earnings report with the loss-hit industrial giant’s shares at risk of being pulled from the Tokyo stock exchange. One of Japan’s best-known firms, Toshiba will reportedly release unaudited nine-month results after missing an original deadline in February and another one in March. The deadline comes as … Read more
At least one other firm has also submitted a preliminary bid, they said. Taiwan manufacturer Foxconn has signalled it could mount a $27bn (£21.7bn) bid for Toshiba’s chip business, according to reports. Toshiba has put part or all of its valuable memory chip unit up for sale to plug a gaping hole in its finances. … Read more
Westinghouse, Toshiba’s US nuclear unit, has filed for US bankruptcy protection. The US firm has struggled with hefty losses that have thrown its Japanese parent into a crisis, putting the conglomerate’s future at risk. Westinghouse has suffered huge cost overruns at two US projects in Georgia and South Carolina. Toshiba said the bankruptcy would not … Read more
Toshiba’s loss-hit US nuclear unit Westinghouse Electric (WEC) has filed for bankruptcy protection, the companies said Wednesday, as the troubled division wrestles with multi-billion losses and accounting fraud claims. The Japanese conglomerate’s board earlier in the day approved the Chapter 11 filing in a US court, which temporarily shelters struggling firms as they try to … Read more
Toshiba has approved a plan to place its US nuclear unit in bankruptcy protection, a report said Wednesday, as the troubled division wrestles with multi-billion-losses and accounting fraud claims. Japan’s Nikkei business daily said Toshiba’s board gave Westinghouse Electric the green light to make a Chapter 11 filing in a US court, which temporarily shelters … Read more
Shares in Toshiba plunged Monday on a report that said its loss-hit US nuclear unit could be placed into bankruptcy protection as early as this week. Westinghouse Electric could file for Chapter 11 on Tuesday, while the troubled unit is eyeing Korea Electric Power to help with a subsequent restructuring, Japan’s Nikkei business daily said, … Read more
Standard & Poor’s cut its credit rating on Toshiba again Friday, warning that the troubled company’s finances were quickly deteriorating owing to huge losses at its US nuclear unit. The ratings agency slashed its outlook on the Japanese industrial giant by two notches to ‘CCC-‘, pushing it further into junk status after earlier downgrades in … Read more
Toshiba shares plunged Wednesday afternoon as fears grow about the future of one of Japan’s best-known firms, which is battling massive losses and accounting fraud allegations at its US nuclear unit. The Tokyo-listed stock dropped 13.62 percent to 186.5 yen with concerns growing that the embattled company’s shares could be delisted from the bourse. The … Read more
For the second time in as many months, Toshiba has missed its earnings report deadline, citing “difficult circumstances.” The struggling Japanese conglomerate asked to extend the deadline to April 11, saying on Tuesday that it needs more time to investigate ongoing troubles at its U. S. nuclear business. Toshiba (TOSBF) had already received a four-week … Read more
U. S. nuclear firm Westinghouse Electric Co LLC has hired bankruptcy attorneys, in a sign that owner Toshiba Corp (6502.T) is more seriously weighing a Chapter 11 filing as an option to help it rein in a multibillion dollar financial maelstrom. People familiar with the matter said the nuclear engineering company had brought in law … Read more
Japan’s Toshiba Corp (6502. T) wants to raise at least 1 trillion yen ($8.8 billion) by selling most of its flash memory chip business, seeking to create a buffer for any fresh financial problems, a source with direct knowledge of the matter said. The beleaguered conglomerate was pressured to abandon an initial plan to sell … Read more
Toshiba chairman Shigenori Shiga has resigned, hours after the company was forced to delay revealing details of a multi-billion dollar loss. The Japanese conglomerate was expected to say it was writing off about $6bn (£4.8bn) at its US nuclear business. But the BBC understands Toshiba has not been able to agree with its auditors how … Read more
Toshiba said Tuesday its chairman Shigenori Shiga was stepping down from his post as the company warned it was set to book multi-billion-dollar losses in its US nuclear business. Hours after delaying the release of its financial results, the company issued a forecast that said it was on track to report a net loss of … Read more
Toshiba shares dropped Tuesday morning as a report said the huge conglomerate may warn that its future is in jeopardy owing to huge losses in its nuclear power business. Japan’s leading Nikkei business daily said Toshiba would issue the red flag as it reports nine-month earnings later in the day. Shares in the beleaguered company, … Read more