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Nishimuro Taizō, Ex-Head of Japan Post, Toshiba, Dies at 81 (News)

Tokyo, Oct. 18 (Jiji Press)—Former Japan Post Holdings Co. President Nishimuro Taizō, who also served as head of Toshiba Corp. and the Tokyo Stock Exchange, has died, it was learned Wednesday. He was 81. The date and cause of his death are not known. A native of Yamanashi Prefecture, west of Tokyo, Nishimuro entered Tokyo Shibaura Electric Co., the predecessor of Toshiba, after graduating fr…

TSE Decides to Keep Toshiba Listed for Now (News)

Tokyo, Oct. 11 (Jiji Press)—The Tokyo Stock Exchange said Wednesday that it will end the designation of Toshiba Corp. as a "security on alert" on Thursday, allowing the troubled electronics and machinery giant to remain listed for the time being. The TSE said that after examining the company's measures to prevent accounting irregularities and interviewing executives, it recognized that Toshiba'…

Toshiba Inks Deal to Sell Prized Chip Unit to Bain-Led Group (News)

Tokyo, Sept. 28 (Jiji Press)—Toshiba Corp. said Thursday that it signed a deal the same day to sell its prized flash memory unit to a Japanese-US-South Korean team led by US private equity fund Bain Capital for ¥2 trillion, paving the way for rebuilding its tattered finances reflecting huge losses from its nuclear business in the United States. The contract was finally completed following many …

Japan Camp to Hold Majority Stake in Toshiba Memory (News)

Tokyo, Sept. 21 (Jiji Press)—Toshiba Corp. told its main creditor banks in a meeting Thursday that a majority stake in its flash memory unit will be held by Japanese companies after the sale of the lucrative business to a consortium led by US private equity fund Bain Capital. The Japanese electronics and plant marker explained that the Japanese camp, including Toshiba itself, is set to hold a 5…

Toshiba Decides to Sell Chip Unit to Bain-Led Team (News)

Tokyo, Sept. 20 (Jiji Press)—Troubled Japanese electronics and machinery giant Toshiba Corp. said Wednesday that the company decided at a board meeting the same day to sell its prized flash memory unit to a Japanese–US–South Korean consortium led by US private equity fund Bain Capital. Toshiba said it aims to conclude a deal to sell the unit, Toshiba Memory Corp., for ¥2 trillion at an early da…

Toshiba Looks to Bain Capital Team Again for Chip Unit Sale (News)

Tokyo, Sept. 13 (Jiji Press)—Toshiba Corp. said Wednesday it has entered into a memorandum of understanding with Bain Capital to accelerate talks with a group led by the US private equity firm on the sale of its flash memory unit, with the aim of reaching a definitive agreement by the end of this month. The move came as the troubled Japanese electronics and machinery giant and Western Digital C…

Toshiba’s Continuing Struggle to Stave off BankruptcyImazawa Makoto

Electronics and machinery giant Toshiba Corp. continues to flounder after massive losses in its nuclear power business in the United States came to light in December 2016, plunging the corporation into negative net worth. Toshiba’s auditor gave only qualified approval of its business results for the fiscal year ending March 2017 due to a disagreement over how Toshiba handled the losses on its balance sheet, leading to a delay in announcing its annual earnings results and filing its annual securities report. To erase its negative net worth, the firm is in talks to sell Toshiba Memory Corp., its flash memory unit, but no agreement on a sale has been reached yet.

Toshiba Obtains Qualified Opinion from Auditor (News)

Tokyo, Aug. 10 (Jiji Press)—Toshiba Corp. said on Thursday it has obtained a "qualified opinion" from its auditor for its financial statement for the year ended last March, averting the risk of an immediate delisting of its stock. The company's stock is unlikely to get delisted anytime soon from the Tokyo Stock Exchange as the struggling Japanese electronics and machinery maker avoided an "adve…

Japan-US-Korea Team Named Toshiba Unit Preferential Bidder (News)

Tokyo, June 21 (Jiji Press)—Toshiba Corp. decided at a board meeting on Wednesday to grant a Japan-US-Korea consortium the preferential right to negotiate for its flash memory unit, Toshiba Memory Corp. The struggling Japanese electronics and machinery maker said it aims to conclude a contract with the consortium before a general meeting of Toshiba's shareholders on June 28 and complete the uni…

Toshiba Reports Results Without Auditor Approval (News)

Tokyo, April 11 (Jiji Press)—Toshiba Corp. finally reported its April–December 2016 results on Tuesday after postponing the release twice due to a probe on internal control issues. The report lacked its auditing firm's approval, however, placing the struggling Japanese electronics and machinery company at a greater risk of stock delisting. Toshiba failed to obtain approval for the earnings repo…

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