Toshiba Corp. ADROTCPK - Current
After Its Self-Criticism, Toshiba Is A Buy
Thu, Sep. 29, 8:01 AM
- Hitachi (OTCPK:HTHIY), Toshiba (OTCPK:TOSYY) and Mitsubishi Heavy Industries (OTCPK:MHVYF) are in talks to combine their nuclear fuel operations, as the outlook for restarts of reactors following the Fukushima nuclear crisis remains bleak.
- The three Japanese conglomerates aim to merge the operations as early as spring 2017, sources told Reuters.
Thu, Sep. 15, 8:33 AM
- After recently being ensnared in an accounting scandal, Toshiba (OTCPK:TOSYY) is trying to strengthen its reputation by building its infrastructure business in Asia, Nikkei reports.
- The Purple Line urban railway system in Bangkok, which Toshiba won the contract for, along with Japanese trading house Marubeni in 2013, is one example of that effort.
Thu, Sep. 8, 4:56 AM
- Shares of Apple suppliers were broadly mixed in the wake of the iPhone 7 and Apple Watch Series 2 launches, confounding analysts' predictions of likely beneficiaries.
- The new features for the iPhone were broadly in line with expectations, given previous leaks to the media.
- Across Asia: Hon Hai -1.3%, Pegatron flat, Wistron -1.3%, Catcher +3.9%, Han's Laser -0.7%, Largan -0.9%, LG Innotek -1.1, Alps -2.8%, AAC Tech +3.3%, Merry +1.3%, Goertek -0.4%, SK Hynix +2.1%, Toshiba -1.5%, Samsung +1.1%, TSMC -0.5%
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.
Fri, May 6, 5:05 AM
- Looking to steer past the huge accounting scandal that hammered its reputation, Toshiba (OTCPK:TOSYY) has nominated Satoshi Tsunakawa, a former head of its medical equipment division, to be its next chief executive officer.
- The company publishes its full-year earnings next week, but has already warned of a ¥470B ($4.4B) net loss for the last fiscal year as it booked a massive write-down of its U.S. nuclear unit Westinghouse.
Tue, Apr. 12, 2:09 AM
- According to research firm Gartner, global shipments of personal computers fell 9.6% to 64.8M units during Q1, marking the sixth consecutive quarter of declines and the first time since 2007 that shipments dropped below 65M units (IDC reported similar results worldwide).
- In the U.S., PC shipments totaled 13.1M units, representing a 6.6% decline from a year earlier and the lowest volume in three years.
- The sector has faced headwinds in recent quarters which include an economic slowdown in China, the strong U.S. dollar and the growing popularity of smartphones.
- Related stocks: OTC:ASIYF, AMD, HPQ, INTC, OTCPK:LNVGY, MSFT, MU, NVDA, SNE, STX, OTCPK:TOSYY, WDC
Thu, Apr. 7, 8:30 AM
- Toshiba (OTCPK:TOSYY) will build a factory in India to make parts for trains, following plans by General Electric and Alstom to set up facilities in the country after winning deals to build locomotives.
- The Japanese firm will manufacture train control and power conversion systems in the factory in Hyderabad, located in southern India, from April 2017.
Thu, Mar. 17, 8:30 AM
- Toshiba (OTCPK:TOSYY) is investing ¥360B ($3.2B) on a new factory for flash memory even as it deals with a record annual loss and other fallout from an accounting scandal.
- The company expects the plant, which will make its proprietary 3D flash chips, to begin output no earlier than 2018.
- Earlier: Toshiba to sell medical unit to Canon for $5.9B, but nuclear unit faces probe (Mar. 17 2016)
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.
Mon, Mar. 14, 7:49 PM
- Japan's Toshiba (OTCPK:TOSYY) is in late-stage talks to sell its white goods business -- for tens of billions of yen -- to Chinese appliance giant Midea Group, Nikkei reports.
- That's in lieu of a possible deal with Sharp (OTCPK:SHCAY) -- now set to be bought by Foxconn.
- Toshiba has been trying to remake itself after an accounting scandal, and has recently agreed to sell its medical equipment subsidiary to Canon and integrate its PC division with Vaio and Fujitsu's segment.
- It's got existing ties to Midea that could make the transfer easier. Toshiba could offload most of its Toshiba Lifestyle Products & Services to Midea by this summer; the deal's currently focused on sales channels in Japan and employment.
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.
Thu, Mar. 3, 4:58 AM
- Toshiba (OTCPK:TOSYY) is seeking about ¥200B ($1.8B) in loans from three lenders to cover the cost of restructuring of its home electronics and semiconductor businesses, the Nikkei Asian Review reports.
- The Japanese electronics giant, which has admitted hiding its poor performance for years by using false accounting, is braced for a net loss of ¥710B this year, with restructuring costs expected to come to ¥248B.
- Toshiba ended the day +7.1% in Tokyo following the news.
Wed, Mar. 2, 2:40 PM
- Japan's Nikkei reports Toshiba (OTCPK:TOSBF) is seeking ¥200B-¥250B ($1.75B-$2.19B) is new loans from three banks to help pay for its ongoing restructuring. The banks are expected to provide the funds as soon as this month.
- Toshiba has been busy cutting jobs and selling assets, and is a month removed from forecasting a ~$6B net loss for the fiscal year ending in March. The company said in December it intends to take out a ¥300B credit line, after having obtained a ¥400B credit line in September.
- The Japanese conglomerate's total interest-bearing debt stands around ¥1.6T ($14B).
Mon, Feb. 29, 5:11 AM
- Looking to bolster its finances as it grapples with the fallout from a damaging accounting scandal, Toshiba (OTCPK:TOSYY) is planning to sell its entire medical equipment unit rather than just a controlling stake, Reuters reports.
- Aggressive offers from KKR, Canon (NYSE:CAJ), Fujifilm (OTCPK:FUJIY) and Konica Minolta (OTCPK:KNCAY), could value the business at much more than initial estimates of $3.5B.
- The deadline for the second round of bidding is Friday.
Tue, Feb. 16, 8:39 AM
- Toshiba (OTCPK:TOSYY) is not considering withdrawing from personal-computer production or selling its Hangzhou factory in China.
- The declaration follows a report by the Sankei newspaper that said the company was planning to pull out of PCs as it restructures its business after a massive accounting scandal.
Thu, Feb. 4, 4:17 AM
- Toshiba (OTCPK:TOSYY) expects to record the biggest annual loss in its 140-year-old history as the firm wrote down the book value of several units, including energy and infrastructure, while restructuring costs ballooned.
- For the full fiscal year ending in March, Toshiba predicted it would record a net loss of ¥710B ($6b), larger than the previous ¥550B net-loss forecast in December.
- After a major accounting scandal last year, CEO Masashi Muromachi began to implement across-the-board shake-ups, including cutting thousands of jobs and spinning off non-core businesses.