Toshiba Aims to Return to TSE 1st Section Early
Tokyo, Dec. 13 (Jiji Press)--Toshiba Corp. <6502> said Friday it aims to come back to the Tokyo Stock Exchange's first section as early as possible after the TSE eases its requirements in February.
The Japanese electronics and machinery maker said in a statement that it "intends to apply for its return to the first section as soon as possible" following the implementation of the revised rules.
Toshiba was demoted to the exchange's second section in August 2017 after its debts exceeded its assets at the end of fiscal 2016 due to massive losses at its nuclear plant operations in the United States.
The TSE last month unveiled a plan to ease its rules on the promotion from the second section to the first.
Under the relaxed rules, companies will be allowed to apply for a promotion if their financial statements show no adverse opinions from auditors over the past two years, instead of five years at present.
[Copyright The Jiji Press, Ltd.]