Sumitomo Mitsui Financial Group Inc

Toshiba Seeks $8.8 Billion For Chip Unit Stake As Banks Fret Over Risks

by

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 Flags Hit of ‘billions of Dollars’ On U.S. Nuclear Acquisition

by

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