Toshiba News

The manufacturer decided to restructure the workforce in Japan by seven percent, which amounts to around 5,000 job cuts.

CEO Satoshi Tsunakawa was appointed as interim chairman. Tsunakawa retook the helm in April after Toshiba`s previous CEO left The board said it would undertake a full review of assets and devise a plan to create growth.

In a statement, Toshiba repeated its stance that it was aiming to close the deal to sell its chip business by the end of March, saying in response to the NHK report that nothing specific had been decided regarding any funding plans.

The company along with its partners Toshiba and Denso will also invest around Rs 1,150 crore for a new unit to produce lithium ion batteries.

Japan Display, born out of the 2012 merger of the liquid crystal display divisions of Hitachi, Toshiba and Sony, has been lagging behind its foreign rivals as the industry shifts to new technologies.

The head of Taiwan`s tech giant Foxconn said Thursday its pursuit of Toshiba "is not yet over", a day after the Japanese firm announced it preferred another group of bidders to acquire its prized chip business.

Toshiba said on Tuesday its chairman Shigenori Shiga was stepping down from his post as the company warned it was set to book multi-billion-dollar losses in its US nuclear business.  

Domestic and foreign companies like Mercedes Benz India, General Electric, Toshiba and PepsiCo have made investments under the government's 'Make in India' scheme between 2014 and 2016, Parliament was informed.

The company has been roiled by a profit-padding scandal, in which high-handed bosses for years systematically pushed their subordinates to cover-up weak financial figures.

 Toshiba Corp said it plans to invest 360 bn yen ($3.2 bn) to build a new semiconductor facility in Japan, showing it wants to grow its chip business even as it eyes the sale of other units such as appliances and healthcare.

Toshiba warned it expects to post a record annual loss of USD 4.5 billion and slash thousands of jobs.

Toshiba Corp is expected to forecast a record net loss of more than 500 billion yen (USD 4.13 billion) for the year ending March on restructuring costs, Nikkei reported on its website on Saturday.

Toshiba on Monday reported a first-quarter loss of $102 million after sales fell to a two-and-half-year low, in a fresh blow to the Japanese conglomerate after a huge accounting scandal.

Sales fell 4.5 per cent from a year earlier to 1.35 trillion yen, the lowest since the quarter ended December 2012, due to a poor performance in television and personal computer businesses.

Toshiba left unchanged its previously announced 170 billion yen operating profit on sales of 6.65 trillion yen for its latest fiscal year.

Crisis-hit Toshiba said Tuesday it will book a net loss for the last fiscal year, as it scrambles to revise its financial records to account for a billion dollar accounting scandal.

Japanese company Toshiba in partnership with SanDisk has introduced their 256GB flash chips.

Hisao Tanaka and vice chairman Norio Sasaki -- also a former president -- were the most senior to step down after an independent report found top management complicit in a years-long scheme to pad profits.

CEO and President Hisao Tanaka will be replaced by Chairman Masashi Muromachi effective Wednesday, the company said in a statement, adding it was considering appointing outside directors to over half of its board seats.