Toshiba warns on profit after Q3 slump; COO resigns over expenses
Japan’s Toshiba Corp cut its annual earnings estimate after third-quarter profit slumped and its chief operating officer resigned over the inappropriate use of entertainment expenses.
Exclusive: Toshiba’s preferred bidder offers price short of key 6,000 yen a share, sources say
The preferred bidder to buy out Toshiba Corp has offered to pay less than the widely regarded threshold of 6,000 yen a share, two sources said, indicating the premium for the Japanese conglomerate may not be as rich as investors had hoped.
Japan gives Kioxia and Western Digital $680 million to boost memory chip production
Japan’s government on Tuesday said it will provide as much as 92.9 billion yen ($680 million) to Kioxia Holdings and Western Digital Corp (WDC.O) to help them boost production and ensure a stable supply of memory chips in Japan.
Toshiba board gains two directors from activist funds in historic shift
Toshiba Corp (6502.T) shareholders voted in two board directors from activist hedge fund investors at its annual general meeting on Tuesday – an inclusion expected to add momentum to its exploration of potential buyout deals.
Exclusive: Bidders weigh offers valuing Toshiba at up to $22 billion – sources
Bidders for Toshiba Corp (6502.T) are considering offering up to 7,000 yen ($51.41) per share to take the troubled Japanese conglomerate private, three people familiar with the situation told Reuters, valuing the deal at about $22 billion.
Toshiba now plans to split into two, bumps up shareholder return targets
Toshiba Corp (6502.T) said it now aims to break up into two companies instead of three, while also unveiling a big boost to planned shareholder returns in an effort to appease angry investors.
Toshiba should overhaul board and management, major Japan pension fund says
Toshiba Corp’s (6502.T) proposal to split itself into three companies won’t solve its governance issues and the conglomerate should prioritise an overhaul of its board and management, said a senior executive at one of Japan’s largest pension funds.
EXCLUSIVE Toshiba in talks with four investment firms for strategic ideas -sources
Toshiba Corp (6502.T) is in talks with at least four global private equity firms including KKR & Co Inc (KKR.N) and Blackstone Inc (BX.N) to seek their ideas for its new strategy, three sources with knowledge of the matter said.
EXCLUSIVE Harvard wasn’t pressured over Toshiba, former Japan adviser says
A former Japanese government adviser said he did not put pressure on Harvard University’s endowment fund to influence its voting at Toshiba Corp’s (6502.T) contested shareholder meeting last year, and that the fund should “set the record straight”.
Japan to consider tighter rules on foreign owners of domestic firms -Yomiuri
The Japanese government is looking at tightening regulations on foreign funds that hold stakes in domestic firms with important technology in areas such as nuclear power and defence, the Yomiuri newspaper reported on Wednesday.
