Tagged With "Satoshi Tsunakawa"

Apr 25, 2017 Toshiba Corp (tosbf, +0.81%) has decided to replace its auditor after less than a year as the troubled electronics conglomerate struggles to win its approval on full-year financial statement, the Nikkei business daily reported. Earlier this month, the company filed twice-delayed business results without an endorsement from auditor PricewaterhouseCoopers (PwC) (pricewaterhousecoopers) Aarata, putting its listing on the Tokyo Stock Exchange in jeopardy. At a news conference...

Toshiba Corp ( 6502.T ) has decided to replace its auditor after less than a year as the troubled electronics conglomerate struggles to win its approval on full-year financial statement, the Nikkei business daily reported. Earlier this month, the company filed twice-delayed business results without an endorsement from auditor PricewaterhouseCoopers (PwC) Aarata, putting its listing on the Tokyo Stock Exchange in jeopardy. At a news conference announcing the third-quarter results on April 11,...

TOKYO — Toshiba, whose U.S. nuclear unit Westinghouse has filed for bankruptcy protection, is reporting a 950 billion yen ($8.4 billion) net loss for the fiscal year ended March. The Japanese electronics giant's results have failed to win auditors' approval from the previous quarter, after questions were raised over the acquisition of U.S. nuclear construction company CB&I Stone and Webster. Tokyo-based Toshiba Corp. called the results released Monday as projections, rather than results,...

(Reuters) - Toshiba Corp said it is considering various measures in case the $18 billion sale of its chip unit does not close by the end of the financial year and leaves the embattled conglomerate short of funds needed to ensure it stays listed. The deal needs to close by end-March or Toshiba will likely report negative net worth - where liabilities exceed assets - for a second year running. That could trigger an automatic delisting from the Tokyo Stock Exchange. "Nothing has been decided,...

Toshiba is looking to sell more assets to repair a balance sheet facing multibillion-dollar writedowns. The conglomerate happens to have more than 600 different businesses, but raising cash from the fire sale will be far from simple. While Toshiba's two biggest enterprises are nuclear reactors and semiconductors, the Tokyo-based company also has its hands in a wide range of endeavors, including elevators, a general hospital, software services and light bulbs. It even had a lettuce-growing...

http://www.charlotteobserver.com/news/business/article132629149.html -TOKYO Toshiba, the embattled technology conglomerate, said it planned to write off more than $6 billion and withdraw from the business of building nuclear power plants as the impact of a disastrous bet on U.S. nuclear energy continued to rock a mainstay of corporate Japan. The company also said on Tuesday that its chairman, Shigenori Shiga, would resign, ending weeks of speculation. Its executives have come under intense...

In the latest twist in the Western Digital () and Toshiba () battle for the future of their NAND flash joint venture, The Japan Times that Western has offered $17.8 billion for the unit, citing multiple unnamed sources. The report, without byline, says Western’s CEO, Steve Milligan , is to "hold talks" with Toshiba’s president, Satoshi Tsunakawa , today. The Innovation Network Corp of Japan and the Development Bank of Japan are said to be helping with some of the purchase price. Today’s...

Toshiba, which is undergoing business reconstruction, intends to spin off its main businesses, such as social infrastructure and energy, it was learned Tuesday. Toshiba aims to speed up the decision-making process in each of its business areas so that reconstruction of its management can proceed more quickly. Under the current plan, four businesses will be spun off: social infrastructure; energy such as thermal power plants; electronic devices other than memory chips; and ICT solutions,...

TOKYO--( BUSINESS WIRE )--Nobuaki Kurumatani today took office as the first Chairman and CEO of Toshiba Corporation (TOKYO:6502) to be appointed from outside the company in over 50 years. Commenting on his appointment as Representative Executive Officer and Chairman and CEO, Mr. Kurumatani said, “I am honored to be appointed CEO, and very much aware of the responsibilities I take on. Toshiba is not just any company. Its corporate DNA has realized countless Japan- and world-first technologies...

Penalized Japanese auditor struggles to regain ground EY ShinNihon fulfills obligations to regulator in wake of Toshiba scandal TAKEHIKO HAMA, Nikkei staff writer Toshiba CEO Satoshi Tsunakawa bows during a news conference in 2017. © Reuters TOKYO -- Ernst & Young ShinNihon, the auditing firm hit by administrative penalties over Toshiba 's financial window-dressing, has completed its statutory obligations imposed by the Japanese regulator. For over a year, the Tokyo-based accounting firm...

Tokyo/San Francisco — Toshiba’s talks to sell its chips business to a consortium led by Bain Capital hit an impasse over the timing of payments for the business and governance issues, according to people familiar with the matter. The new hurdle casts doubt on the company’s ability to complete a deal quickly. The Bain group wants to make cash payments after Toshiba resolves a legal dispute with partner Western Digital, while Toshiba wants the money earlier, said the people, asking not to be...

FILE- In this Aug. 10, 2017 file photo, Toshiba Corp. President Satoshi Tsunakawa speaks during a press conference at the company's headquarters in Tokyo. The feud between Toshiba Corp. and its U.S. joint-venture partner Western Digital over a planned sale of Toshiba’s lucrative flash-memory unit is being aired at a Tokyo court. At the first hearing of the case Wednesday, Nov. 29, 2017, Toshiba’s lawyers demanded 120 billion yen ($1.1 billion) in damages from Western Digital for allegedly...

Toshiba in turmoil? Nobuaki Kurumatani is stepping down from CEO position according to Nikkei Asian News - Chairman Satoshi Tsunakawa will take over as new CEO - Company recently conducted detailed interviews with top executives at the company, and apparently over half expressed lack of confidence in Kurumatani - Kurumatani was most likely going to be removed at upcoming shareholders’ meeting - CVC Private Equity has offered $21 billion to buy Toshiba - KKR is also reportedly going to make...

TOKYO, Feb 14 (Reuters) - Japan's Toshiba Corp (6502.T) plans an extraordinary general meeting of shareholders on March 24, to seek their initial approval to hive off its devices business, the company said on Monday. The final, legally binding vote to determine whether to break up the 146-year-old conglomerate will not happen until next year, but next month's meeting will be a key gauge of shareholder support for the board's restructuring plan. Toshiba's plan has been criticised by some...

TOKYO (AP) — Japanese technology giant Toshiba has named a new chief executive as it seeks shareholder approval for a restructuring plan aimed at restoring its reputation and competitiveness. The company said Tuesday that its board had decided Taro Shimada, an executive officer and corporate senior vice president, would replace Satoshi Tsunakawa as chief executive. Shimada was an executive at Siemens, both in Japan and the U.S., before joining Tokyo-based Toshiba Corp. in 2018, working in...

Turmoil continues at Toshiba CEO Satoshi Tsunakawa has abruptly resigned, apparently because he did not agree with reorganization plans, according to Reuters News Services named Taro Shimada as interim CEO (formerly from Siemens AG) company will continue to pursue its current break-up plan as it had been approved by the board Mamoru Hatazawa, a board member, also left "The split plan will be reviewed - we think there is a chance it is scrapped," said Justin Tang, head of Asian research at...

TOKYO -- New Toshiba President Taro Shimada skipped the typical Japanese modesty when saying why he is fit to lead the troubled industrial group. "I am the first president to understand digital technology," Shimada told reporters earlier this month. Toshiba's second change of leaders in less than a year comes at a time observers say may be the company's last chance to make a comeback after missteps and clashes with shareholders. Shimada faces his first test with investors at an extraordinary...

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