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
Japanese trust banks are preparing to sue Toshiba Corp over its 2015 accounting scandal, a fresh headache for the conglomerate as it scrambles to offset a separate imminent multi-billion dollar writedown. The news follows an announcement by the struggling conglomerate on Friday that it will sell a minority stake in its memory chip business to … Read more
Toshiba Corp (6502. T) said it will sell a minority stake in its memory chip business as it urgently seeks funds to offset an imminent multi-billion dollar writedown, adding that its overseas nuclear division – the cause of its woes – was now under review. The drastic measures are set to be just some of … Read more
Japan’s Toshiba Corp (6502. T) said it will unveil the extent of the writedown on its U.S. nuclear business on Feb. 14 when it reports its results for the quarter ended Dec. 31. The laptops-to-engineering conglomerate, still recovering from a $1.3 billion accounting scandal two years ago, shocked investors in December by announcing major cost … Read more
Shares in Toshiba have dived 16% on reports that the embattled Japanese conglomerate faces bigger losses at its US nuclear power business. It is feared Toshiba may have to write down the value of the unit by a larger-than-expected 700bn yen ($6.1bn; £5bn). There are unconfirmed reports Toshiba is seeking aid from the government-backed Development … Read more
Toshiba Corp (6502. T) met creditors on Tuesday and asked them not to use provisions in debt agreements to call in their loans early, giving the troubled company time to work out a turnaround plan, sources with knowledge of the matter said. It was the first such meeting since the conglomerate, which is still recovering … Read more
Toshiba’s dreams of becoming a nuclear energy leader have turned into a nightmare. Rattled investors have wiped $6.6 billion off the company’s market value after it warned of huge losses tied to its 2015 acquisition of a U. S. nuclear construction business. Shares in the Japanese firm tumbled another 17% on Thursday. Losses over the … Read more
Toshiba Corp said it may have to book several billion dollars in charges related to a U. S. nuclear power acquisition, a shock warning that sent its stock tumbling 12 percent and rekindled concerns about its accounting acumen. The Japanese group said cost overruns at U.S. power projects handled by a nuclear construction business newly … Read more
1. On Sunday, August 28, commencing at 11:56 a.m. (local time; 17:56 p.m., Sunday, August 28, Japan time) for approximately 30 minutes, Mr. Shinzo Abe, Prime Minister, who is visiting Nairobi, the Republic of Kenya, to attend the Sixth Tokyo International Conference on African Development (TICAD VI), attended the Japan-Africa Business Conference at the Kenyatta … Read more