Thu, Jun. 30, 5:41 AM
- Japan's Fair Trade Commission has approved Canon's (NYSE:CAJ) acquisition of Toshiba's (OTCPK:TOSYY) medical equipment unit, but said it would prohibit further use of the deal's unusual structure.
- Hurt by an accounting scandal and in a hurry to raise cash before closing its books in March, Toshiba structured the ¥665.5B ($6.5B) sale in an unorthodox way so it could book proceeds before securing approval from regulators.
Tue, Mar. 15, 4:17 AM
- Toshiba (OTCPK:TOSYY) will reveal its business strategy for next fiscal year on Friday in an announcement expected to include plans to sell its medical equipment unit to Canon (NYSE:CAJ) and boost its finances following a $1.3B accounting scandal.
- The Japanese industrial conglomerate is also in late-stage talks to sell its white goods business to the Midea Group, in a deal that's expected to fetch tens of billions of yen.
Wed, Mar. 9, 2:12 AM
- Japan's Canon (NYSE:CAJ) is set to buy Toshiba's (OTCPK:TOSYY) medical equipment unit for ¥700B ($6.2B), beating rival Fujifilm (OTCPK:FUJIY) and a coalition of Konica Minolta (OTCPK:KNCAY) and Permira in a hotly contested auction, the Nikkei reports.
- Board members believe the limited overlap between the two companies' operations will lead to smooth antitrust proceedings.
- The transaction will also help Toshiba rebuild its finances following the biggest accounting scandal in its 140-year history.
Dec. 4, 2015, 7:10 AM
- Following a series of negotiations, Sony (NYSE:SNE) has announced that it's buying Toshiba's (OTCPK:TOSYY) image sensor business for 19B yen, or about $155M.
- Toshiba's fabrication plant, equipment, and employees will transfer to Sony's new wholly-owned subsidiary, the Sony Semiconductor Corporation, within the fiscal year ending March 31, 2016.
- Previously: Toshiba confirms sale of sensor business to Sony (Oct. 28 2015)
Dec. 3, 2015, 6:52 PM
- Japan's Nikkei reports Toshiba (OTCPK:TOSBF), Fujitsu (OTCPK:FJTSY), and Sony spinoff Vaio are thinking of combining their PC units, thereby creating a firm possessing 30% of the Japanese PC market (topping current leader NEC Lenovo's 26.3%).
- The companies are reportedly "aiming to hatch a basic agreement as early as this month and launch the combined company in April 2016." The Nikkei adds Vaio would be "the surviving company" within the group. Toshiba is relatively strong in North America, and Fujitsu in Europe.
- The report comes in a rough year for PC sales. IDC estimates global shipments fell 10.8% Y/Y in Q3, with Japanese sales hurt by a weak yen, high inventories, and a relative lack of Windows 10 promotional efforts.
- Last week: Toshiba thinking of selling stake in chip unit
Oct. 28, 2015, 3:21 AM
- Confirming earlier rumors, Toshiba (OTCPK:TOSYY) has announced the sale of its image sensor business to Sony (NYSE:SNE) as it tries to recover from a $1.3B accounting scandal.
- Sony recently said it would spin off its image sensor business into a new wholly-owned subsidiary called Sony Semiconductor Corporation, and Toshiba's operations are set to come under that umbrella.
- No financial details of the deal have been disclosed.
- Previously: Sony reportedly buying Toshiba's image sensor unit for $165M (Oct. 24 2015)
Oct. 24, 2015, 5:26 PM
- Bloomberg and Reuters report Sony (NYSE:SNE) is near a deal to buy Toshiba's (OTCPK:TOSBF) image sensor unit for ¥20B ($165M). A deal could be announced in the coming week.
- The reports follow news Sony is spinning off its image sensor unit, which is a major iPhone/iPad supplier. Techno Systems Research estimates Sony had 40% of the 2014 image sensor market, up from 35% in 2013. OmniVision had 16%, and Samsung 15%. Both the mobile and automotive markets have lifted broader image sensor demand, while consumer interest in high-quality front and rear smartphone cameras has propped up ASPs.
- As for Toshiba, the deal would continue a string of asset sales in the wake of the company's recent accounting scandal. Toshiba recently sold a stake in medical equipment maker Topcon for ¥49B ($404M), and a 30% stake in a building for ¥37B ($305M). Meanwhile, job cuts are planned for underperforming units.
Oct. 13, 2015, 5:07 PM
- Sources tell Bloomberg SanDisk (NASDAQ:SNDK) is in talks with Micron (NASDAQ:MU) and Western Digital (NASDAQ:WDC) about a possible acquisition. No decision has been made.
- Acquiring SanDisk, which partners closely with Toshiba (OTCPK:TOSBF) on NAND flash manufacturing, would turn Micron (NAND partnership with Intel) into a heavyweight within the NAND market - Samsung and SanDisk/Toshiba are currently the market's biggest players. Micron received 32% of its August quarter revenue from flash, and 60% from DRAM. The company has been betting on 3D NAND and 3D XPoint to strengthen its flash position.
- Western has made several smaller flash-related acquisitions, as it tries to offset the gradual encroachment of SSDs/flash storage on hard drives. However, none of the buyout targets were comparable in scale to SanDisk, and Western still depends on 3rd-party NAND suppliers who also compete with the company in the SSD market.
- SanDisk +11.5% after hours to $68.90. Micron +2.6% to $18.65. Western +0.8% to $85.00.
- Earlier: SanDisk jumps on reported sale effort
Jul. 22, 2015, 2:24 AM
- Just hours after it announced plans for the divestiture, Toshiba (OTCPK:TOSYY) completed the sale of a 4.6% stake in Finnish elevator maker Kone Oyj (OTCPK:KNYJY) for €864.7M ($945.6M),
- The company had been unable to close its books over the past year due to accounting irregularities, which prompted its chief executive and a string of other senior officials to resign yesterday.
Oct. 10, 2012, 3:25 AM
Toshiba agrees to acquire Shaw's (SHAW) 20% stake in nuclear power-plant company Westinghouse Electric for Y125B ($1.6B), thereby lifting the Japanese conglomerate's holding to 87%. Toshiba has also received interest from new potential partners about buying a stake in Westinghouse, although Toshiba wants to maintain a majority holding. (PR)| Oct. 10, 2012, 3:25 AM | 1 Comment