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TOKYO, Japan (AFP) – Troubled conglomerate Toshiba on Monday said it will delay reporting its annual earnings for the past fiscal year, but warned it is on track to book a net loss of 950 billion yen ($8.4 billion). The delay comes after one of Japan’s best-known companies twice postponed its nine-month earnings before releasing unaudited results last month. The delays have stirred fears that the huge conglomerate’s shares could be delisted from the Tokyo […]
TOKYO, Japan (AFP) — Google and Amazon joined a list of potential buyers eyeing Toshiba’s lucrative memory chip business as the Japanese conglomerate seeks bidders to cover huge losses, a newspaper said Saturday. Toshiba has reportedly completed the first round of bidding for its prized memory chip business, seen as key for the cash-strapped company to turn itself around. Some 10 foreign companies and funds, including Google and Amazon, tendered bids, the mass-circulation Yomiuri Shimbun […]
TOKYO, Japan (AFP) — Tokyo shares slipped Thursday, though Toshiba jumped after shareholders agreed to the sale of its memory chip unit to cover huge losses stemming from the company’s troubled nuclear business. Investors had few strong leads with Britain’s formal move to exit the EU on Wednesday already priced into the market, analysts said. Investors are also taking a cautious approach to US President Donald Trump’s economic policies after a humiliating setback on his […]
TOKYO, Japan (AFP) — Shares in Toshiba plunged Monday on a report that said its loss-hit United States 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, without citing sources. The two firms have an existing technology partnership. Toshiba’s Tokyo-listed stock opened […]
TOKYO, Japan (AFP) — Toshiba shares tumbled in early trading Tuesday after news reports that the troubled industrial giant would again delay announcing its financial results. The stock lost 6.1 percent to 201.8 yen in the first few minutes before rebounding slightly to 204.8 yen, still down 4.69 percent from the previous day. Toshiba, reeling from huge losses at its United States nuclear power unit, was to issue its April-December financial results on Tuesday, one […]
by Miwa SUZUKI Agence France-Presse TOKYO, Japan (AFP) — Toshiba hinted at a possible fresh accounting scandal Tuesday as it delayed the release of financial results but warned it would lose billions of dollars in its US nuclear power unit. Its Tokyo-listed shares plunged after one of Japan’s best-known companies surprised markets by failing to release nine-month earnings at midday as scheduled. Toshiba — which was hammered in 2015 by a profit-padding scandal — said […]
by Miwa SUZUKI Agence France Presse TOKYO, Japan (AFP) — Toshiba shares dived Tuesday after it delayed the release of financial results expected to include billions of dollars in losses tied to its ailing US nuclear power unit. The stock price plunged 9.45 percent to 226.2 yen at one point after it surprised markets by saying its nine-month earnings report had “not yet become available”. The shares closed down 8.0 percent at 229.8 yen. “We […]
TOKYO, Japan (AFP) — Shares in Toshiba dived more than 10 percent Tuesday on reports it is likely to record a huge special loss related to a US subsidiary’s acquisition of a nuclear power service company. Toshiba shares traded 10.4 percent lower at 397.10 yen in morning trading, paring an earlier loss of as much as 16.3 percent. The company is expected to report a roughly 100 billion yen ($850 million) one-time loss for the […]
TOKYO, Japan (AFP) — Toshiba said Friday its half-year profit tripled, owing to cost cuts and the sale of its home appliances business, providing a boost to the firm as it tries to turn the page on an embarrassing accounting scandal. The vast conglomerate posted an April-September net profit of 115.3 billion yen ($1.08 billion), well up from 37.3 billion yen seen a year ago. It also logged a 96.8 billion yen operating profit, reversing […]
Scandal-hit Toshiba on Friday appointed a new president to steer the vast conglomerate past a huge accounting scandal that has hammered its reputation. Company veteran Satoshi Tsunakawa, 60, a senior vice president who joined Toshiba in 1979, will replace incumbent chief Masashi Muromachi in June, Toshiba said. Muromachi became interim president in July last year after top executives resigned over the scandal. The company on Friday also named a new chairman, saying that new leadership […]
By Meg Teckman (Reuters) — After two delays due to an accounting scandal, Japan’s Toshiba finally closes its books for the past financial year. The company reported an annual net loss of over 300 million dollars as it wades through the fallout of overstating profits to the tune of 1.3 billion over the past few years. This has led to shakeups in Toshiba’s board and top-level resignations as the company pledges to improve corporate […]
(Reuters) – Partners Toshiba Corp of Japan and SanDisk Corp of the United States separately filed civil lawsuits against South Korea’s SK Hynix Inc, seeking damages over the suspected theft of data related to their flagship flash memory chip technology used in smartphones and tablet computers. SK Hynix said on Friday it had not yet received the litigation and had no comment to make. Hynix competes with both Toshiba and SanDisk, partners in flash memory […]
