Friday, August 18, 2017
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Google Home Now Supports Free Calls
Asus Unveils the ZenFone 4 Pro, ZenFone 4, ZenFone 4 Selfie Pro, and ZenFone 4 Selfie
Nokia 8 Shipped With ZEISS Optics
Apple is Getting Serious in TV Shows and Film Prospect
Acer's New 4K Projectors Bring the Benefits of Cinema Home
Fiat Chrysler Joins BMW, Intel, Mobileye in Autonomous Driving Team
Kingston Adds Lower 4GB and 8GB Capacities to DataTraveler 2000 Encrypted USB
Intel Ice Lake Architecture Will Find its Way to 10nm+ Chips
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > Toshiba...
Last 7 Days News : SU MO TU WE TH FR SA All News

Tuesday, March 14, 2017
Toshiba Delays Earnings Report, Announces Recovery Plan


Toshiba on Tuesday announced a three-year plan through fiscal 2019, said that there are possibilities to sell its money-losing Westinghouse operations in the U.S and delayed its earnings report.



President Satoshi Tsunakawa said the company was looking at selling its majority stake in Westinghouse and making a priority trying to get the energy giant's battered results off its books.

"We want to deal with this properly," he said at a news conference after the company won approval for a second delay in reporting its earnings for October-December. "We are working on nurturing our growth businesses to return to stable growth by fiscal years 2018 and 2019," Tsunakwa added, reiterating apologies to stakeholders.

Toshiba had been scheduled to report earnings Tuesday, after delaying the report due in February because of auditing problems. It now has until April 11 to produce the report.

Toshiba also announced a three-year plan through fiscal 2019. The recovery strategy includes the deconsolidation of the chip unit and U.S. subsidiary Westinghouse Electric. According to the plan, the group intends to focus on infrastructure, including railway systems and elevators, and energy -- excluding overseas nuclear power plants. Toshiba said its capital expenditure will come to an average of 130 billion yen a year.

Toshiba also plans to spend 40 billion yen on restructuring during fiscal 2017. Tsunakawa said the details of the outlays have yet to be firmed up.

Toshiba acquired Westinghouse in 2006 with much fanfare, making nuclear power an important part of its business strategy.

But that was before the March 2011 nuclear disaster in Fukushima, which has boosted the costs of the business because of growing safety concerns and regulations, and a souring of sentiment toward nuclear power in some countries.

Toshiba is also is selling its entire 65 percent stake in a medical equipment leasing company to Canon Inc.

Tsunakawa also said the conglomerate will not sell its prized memory chip unit to companies in countries that have friction with Japan.

Tsunakawa said Toshiba will select a "proper partner" while "avoiding countries that would pose political problems." He stressed the company aims to finalize a deal in early fiscal 2017, which starts in April.

Five groups, mainly from the U.S. and countries elsewhere in Asia, are reportedly bidding for the chip unit. Tsunakawa declined to say whether there are any Japanese bidders.



Previous
Next
Chinese SMIC to Start 7nm R&D This Year        All News        Apple's New 10.5-inch iPad Is Coming Early April: report
Chinese SMIC to Start 7nm R&D This Year     General Computing News      Samsung To Expand Its 10nm Semiconductor Production Lines, Innvest In New EUV Systems For 7nm

Get RSS feed Easy Print E-Mail this Message

Related News
Toshiba's SG6 SSD Client SSD Uses 64-Layer 3D Flash Memory
Toshiba Announces NVMe over Fabrics Software Technology, Enterprise-Class SSDs with 64-Layer 3D Flash Memory
Toshiba Stops Blocking Western Digital Access to Chip JV, Invests in new chip line without Western Digital
Toshiba Unveils Single Package NVMe Client SSD Utilizing 64-Layer, 3D Flash Memory
Toshiba to Notify Western Digital Before Closing a Memory Sale
Toshiba TR200 SSD Series Uses 64-Layer 3D Flash Memory
Toshiba Resumed Blocking Western Digital Access to JV Database
Court Says Western Digital Should Have Access Toshiba's Technical Databases
Toshiba in Talks with Western Digital, Foxconn Over Memory Unit Sale
Western Digital Responds to Toshiba's Actions
Toshiba Delays Chip Unit Deal, Sues Western Digital
Western Digital Resubmits Bid for Toshiba Chip Unit

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2017 - All rights reserved -
Privacy policy - Contact Us .