Toshiba turmoil update | Print4Pay Hotel

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Toshiba turmoil update

announced it is currently assessing the buyout proposal from JIP

reported that its 3rd quarter operating profit was down 88% YoY to 5.4 billion yen ($40.71 million)
- net sales were down 4.17% to 775 billion yen ($5.84 billion)
- Retail and Printing Solutions division sales up 11.94% to 130.6 billion yen ($984.47 million)
- Operating income down 68.03% to 3.9 billion yen ($29.4 million)
Announced the resignation of Chief Operating Officer Goro Yanase due to inappropriate use of entertainment expenses
“Yanase’s case made it clear that Toshiba’s troubled compliance attitude has not changed at all”; stated Hideki Yasuda, analyst at Toyo Securities
The poor results of the 3rd quarter “would make it hard for a bidder to offer a high price for a buyout”; stated Yoshiharu Izumi, senior equity analyst at SBI Securities.

2/25/2310:54 PM

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