As part of the restructuring the organization in the backdrop of $1.3billion accounting scandal, Toshiba Corp has decided to offload five percent stake each in its two white good manufacturing units to Chinese firm Skyworth Digital Holdings. As part of the agreement, Toshiba will wind up its two China sales units. Toshiba will also use Skyworth's local distribution network for selling white goods such as refrigerators, washing machines, and vacuum cleaners. Japanese laptops-to-nuclear power giant Toshiba is considering a massive overhaul of company's operations.
Toshiba Corp
Breaking News
Toshiba Corp has restructured its board of directors, getting mostly people from outside the company, including three former chiefs of major Japanese companies.
Fears over Toshiba Corp's second probe into its own accounting in two years wiped close to $2.5 billion off the Japanese industrial giant's market value on Monday, with analysts saying lingering doubt on the root of the problem will keep investors on edge.
Panasonic Corp (6752.T) has stopped making TVs in China and plans to liquidate its joint venture in Shandong, a company source said on Saturday, the latest in a string of Japanese electronics companies exiting overseas TV markets amid strong pricing pressure.
Toshiba Corp will decide during the next business year from April on where to build an additional memory chip plant and will consider overseas locations for the facility, Chief Executive Hisao Tanaka said on Friday.
Toshiba Corp said it had signed an agreement with United Technologies Corp to strengthen strategic collaboration through their joint venture, Toshiba Carrier Corp, which develops air-conditioning equipment.
Japan's Toshiba Corp (6502.T) said on Wednesday that it plans to invest $1 billion in Southeast Asia over the next five years to expand its business in the region.
Japan's Toshiba Corp (6502.T) said it would cut 900 jobs in a restructuring of its PC business that will include an exit from business-to-consumer operations in some regions.
Japan-based tech giant Toshiba agreed to buy a 26% stake in India-based water and wastewater management firm UEM India Private Ltd in a deal with undisclosed financial details.
Toshiba Corp is presently still in talks to buy a 50% stake in Britain-based NuGen nuclear consortium although the involved parties have yet to reach a deal, according to Toshiba Chief Executive Officer Hisao Tanaka.
Japan's Toshiba Corp. and German real estate major Gagfah SAS entered a joint venture to sell energy directly to residents in Germany. The deal could bring in a revenue of USD184 million to USD233 million to the Japanese conglomerate.
Japanese chipmaker Toshiba offered to acquire solid-state hard drive maker OCZ Technology Group Inc. in a planned bankruptcy proceeding. The California-based company will immediately file for bankruptcy and liquidate if the deal with Toshiba falls apart.
Toshiba Corp chief executive Hisao Tanaka told Reuters that his company would decide on buying a major stake in UK nuclear venture NuGeneration.
Toshiba Corp announced today that it would acquire a majority stake in Vijai Electricals priced at around USD200 million.
Sources said that the most likely bidders for Panasonic’s healthcare unit are KKK, Toshiba Corp and a consortium led by Bain Capital.
