Wednesday, October 17, 2018
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Twitter Discloses Millions of State-backed Tweets and Accounts
Apple Releases Tool to See What Data it Has Collected
U.S. Broadcasters to Launch ATSC 3.0 TV In 2020
iPhone XR Available for pre-order on Friday
Facebook Sued Over Hiding Inflated Ad Metrics
Tesla Moves Closer to China With $2 billion Shanghai Gigafactory
Facebook is Reviving 'The Real World' Series
Samsung to Acquire Zhilabs to Expand AI-Based Automation Portfolio
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 > Consumer Electronics > Toshiba...
Last 7 Days News : SU MO TU WE TH FR SA All News

Sunday, November 19, 2017
Toshiba's Board Approves $5 billion Injection to Stay Listed

Toshiba's board of directors on Sunday approved to proceed with a financing transaction that will inject to the troubled company 5 billion from overseas investors, in order to remain a publicly traded company.

Toshiba expects to close the trancaction on December 5, 2017.

Toshiba will use the funding to offer to make full payment of parent company guarantee related to nuclear power construction project of Westinghouse Electric Company LLC (Westinghouse).

Obtaining funds necessary to offer to make early payment of the parent company guarantee and settling the obligations to creditors, Toshiba hopes that will obtain the right against Westinghouse to demand reimbursement of the amount paid by Toshiba.

Toshiba intends to sell its claims, including reimbursement, against Westinghouse and interests held by it related to Westinghouse to a third party. If such sale is successfully made, Toshiba is expected to be able to significantly reduce its internal resources it had to allocate to the rehabilitation proceedings of Westinghouse and focus its internal resources on its new businesses after the sale of the Memory Business.

In addition to the above, Toshiba is expected to be able to avoid currency fluctuation risk related to the maximum amount of the parent company guarantee specified in US dollar by making full payment of the parent company guarantee.

Further, if the sale of the claims, including reimbursement, against Westinghouse and interests related to Westinghouse is completed by the end of March 2018, Toshiba is expected to be able to reduce the tax impact recorded as a result of the value of the memory business having been determined, and at least approximately JPY 240 billion will contribute to further enhancing Toshiba's capital base.

If the financing successfully completes and the claims against Westinghouse and interests related to Westinghouse are sold, it is expected that JPY 750 billion of negative consolidated balance sheet (i.e., liabilities in excess of assets) will be remedied as of the end of March 31, 2018 and thereby Toshiba's pressing challenge will be resolved.

After the closing of the transfer of the Memory Business, Toshiba said it would consider measures to return to shareholders while considering Toshiba group's financial situation, business risks and other factors.

The successful completion of the financing will remedy a negative consolidated balance sheet and enable Toshiba to avoid the delisting of its shares, both of which have been pressing challenges of Toshiba.

Samsung, LG Electronics Cut TV Prices for Black Friday        All News        LG Electronics Launches the ThinQ Hub AI Speaker
Samsung, LG Electronics Cut TV Prices for Black Friday     Consumer Electronics News      LG Electronics Launches the ThinQ Hub AI Speaker

Get RSS feed Easy Print E-Mail this Message

Related News
Toshiba Memory Accelerates 96-layer 3D flash Memory Production, Sticks with IPO Plans
Toshiba Posts Quarterly Profit on Chip Sale
Toshiba Delivers First SSD Using 96-Layer 3D Flash Memory
Western Digital and Toshiba Begin Sampling 96-layer QLC NAND
Toshiba Develops 703cm2 Film-based Perovskite Photovoltaic Module With a 11.7 Percent Power Conversion Efficiency
Toshiba Delivers RM5 vSAS Series SSDs Targeting SATA Applications
Value-Optimized Toshiba RC100 NVMe SSDs Now Available
Sharp to buy Toshiba's PC Business
Sharp close to Buying Toshiba's PC Business
Bain Capital to Support Toshiba Memory's Future Acquisitions
Toshiba Completes $18bn Sale of Flash Memory Unit
Toshiba Introduces New XS700 Series of Portable SSDs

Most Popular News
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2018 - All rights reserved -
Privacy policy - Contact Us .