Japan’s Nikkei share average snapped a four-day losing streak on Thursday, helped by a weaker yen as the dollar gained after a private jobs report cemented expectations the U.S. Federal Reserve will raise interest rates next week. Toshiba Corp dived 7.2 percent and was the fourth most traded stock by turnover after sources told Reuters Westinghouse Electric Co LLC, the U.S. nuclear power plant developer it owns, has brought in bankruptcy attorneys from law firm Weil Gotshal & Manges LLP.
Category: Toshiba
Toshiba Said to Seek Bids for Chip Unit at $13 Billion Value
Toshiba Corp. is sending letters soliciting offers for its memory chip business this week and seeking bids that value it at about 1.5 trillion yen , according to people familiar with the matter. The Japanese conglomerate is offering a majority stake in the chip unit and would be willing to sell the entire business, said the people, asking not to be identified because the matter is private.
Toshiba Shares Slump After S&P Warns of ‘Selective Default’
Toshiba lurched lower again Friday after S&P warned of a potential ‘selective default’ downgrade for the Japanese conglomerate if it seeks debt financing to assist in its global restructuring. Toshiba Corp. lurched lower again Friday after Standard & Poor’s warned of a potential ‘selective default’ downgrade for the Japanese conglomerate if it seeks debt financing to assist in its global restructuring.
Nikkei Drops as Investors Wary of Fed Talk
Japan’s Nikkei share average fell on Friday with the market wary of a stronger yen and financials weakened as U.S. bond yields fell after comments by a senior U.S. Federal Reserve official were viewed as relatively dovish. The Nikkei ended down 0.6 percent at 19,234.62 points.
Toshiba Puts Prized Chips Unit Up for Sale to Salvage Business
After a chaotic day of earnings, it’s become clearer Toshiba Corp. may soon end up a shadow of its former self. Buried in company presentation materials Tuesday was a note that the Tokyo-based conglomerate is considering selling a majority stake in its memory chip business, a reversal of a previous plan to limit the sale to 20 percent.
Nikkei Falls After Toshiba Earnings Delay
Japanese stocks fell more than 1 percent on Tuesday, with investor sentiment soured after Toshiba Corp delayed its earnings release, including details of a multibillion dollar charge related to cost overruns at its U.S. nuclear arm. The mood was also hurt by the dollar’s weakening after President Donald Trump’s national security adviser Michael Flynn quit.
Toshiba’s Nuclear Reactor Mess Winds Back to a Louisiana Swamp
If you want to understand why Toshiba Corp. is about to report a multi-billion dollar write-down on its nuclear reactor business, the story begins and ends with a one-time pipe manufacturer with roots in the swamp country of Louisiana. The Shaw Group Inc., based in Baton Rouge, looms large in the complex tale of blown deadlines and budgets at four nuclear reactor projects in Georgia and South Carolina overseen by Westinghouse Electric Co., a Toshiba subsidiary.
Nuclear write-down leaves Toshiba with $3.5-billion loss in third-quarter: Nikkei
The logo of Toshiba is pictured on its flash memory factory, seen during a media tour in Yokkaichi, western Japan September 9, 2014. Japanese conglomerate Toshiba Corp probably suffered a group net loss of about 400 billion yen in the nine months through December, the Nikkei reported on Sunday.
Toshiba Climbs After Reports Its Chip Business Drawing Interest
Toshiba Corp. shares climbed the most in three weeks after reports the company’s plan to sell a stake in its chip unit is drawing attention from possible investors. The stock climbed as much as 7.3 percent to 264.8 yen in Tokyo, the biggest intraday gain since Dec. 30. Toshiba may sell a 20 percent stake in its memory chip operations to raise as much as 200 billion yen and has received interest from Canon Inc. and Tokyo Electron Ltd. as well as overseas private equity funds, the Asahi reported, without citing anyone.
As nuclear loss grows, Toshiba needs chip investors, soon
Workers prepare the new year’s eve numerals above a Toshiba sign in Times Square in Manhattan, New York City, U.S., December 26, 2016. With mounting writedowns from its nuclear business, Japan’s Toshiba Corp is looking to sell part of its core semiconductors business, a world No.2 in the flash memory chips used in smartphones.
Unsold U.S. Gas Toshiba’s Next Threat as Nuclear Loss Looms
Toshiba Corp., already reeling from a crisis at its nuclear business that sent its market value down by almost half, is seeking help from one of the world’s biggest buyers of LNG to avoid billions of dollars in potential losses if it can’t sell American gas. Toshiba is working with Japan’s Jera Co.
Toshiba Drops 16 Percent on Reported Writedown Losses
Toshiba Corp. shares dropped to their lowest since May after a report that the loss in its nuclear business may exceed the 500 billion yen maximum the company had flagged to lenders. The company asked Development Bank of Japan Inc. for financial support and is seeking help from other lenders, the Nikkei newspaper cited people familiar with the matter as saying.
Toshiba Falls on Reports of Wider Loss at Nuclear Business
Toshiba Corp. fell as much as 17 percent after a report that the loss in its nuclear business may exceed the 500 billion yen maximum the company had flagged to lenders. The company asked Development Bank of Japan Inc. for financial support and is seeking help from other lenders, the Nikkei cited people familiar with the matter as saying.
Toshiba Shares Recover From Early Plunge on Accounting Report
Shares of Toshiba Corp. recovered from an early dive after the Asahi newspaper reported regulatory concerns about the company’s earnings. Toshiba rose 2.3 percent to 289.6 yen as of 11:13 a.m. in Tokyo after slumping as much as 6.9 percent in early trade.
Shorts Pick Wrong Time to Forget Toshiba Shares, Down 40%
So it goes for bears on Toshiba Corp., who’ve spent the last seven months covering short sales on the electronics maker after pushing them to a decade high in May. Bets against the stock hit the lowest level of the year this week, just in time for it to plummet more than 40 percent in three days on word of a writedown at its U.S. nuclear services unit. Now credit swaps are surging as rating agencies downgrade their outlook on the company.
Toshiba Falls by Record as Ratings Cut on Looming Writedown
Toshiba Corp. plunged by the most on record in intraday trade after the company’s credit ratings were cut following an announcement it may write down billions of dollars of an acquisition made by U.S. unit Westinghouse Electric. The shares fell as much as 26 percent, the most since 1974, according to available data, to 232 yen in Tokyo on Thursday.
Toshiba’s Record Fall Highlights U.S. Nuclear Cost Nightmare
Toshiba Corp. plunged by the most on record as the once heralded U.S. nuclear renaissance turns into a nightmare for the Japanese company. The shares fell by 20 percent, the most since 1974, according to available data, to close at 312 yen in Tokyo, following a 12 percent drop Tuesday.
European Stocks Called Higher as Global Markets Eye Dow Advance
European stocks are set to drift higher Wednesday, but direction will likely be set by the Dow later in the session. European stocks are expected to open modestly higher Wednesday in a holiday-shortened week that will see thin volumes in all major markets around the region.
Toshiba Falls by Daily Limit as Nuclear Unit Faces Writedown
Toshiba Corp. fell by its daily limit after saying Tuesday it may have to write down the value of an acquisition made by U.S. unit Westinghouse Electric by billions of dollars. The shares fell by 20 percent to 311.6 yen by 9:31 a.m. in Tokyo.
Toshiba Falls by Limit as U.S. Nuclear a Nightmare for Costs
Toshiba Corp. plunged by the daily limit in Tokyo as the once heralded U.S. nuclear renaissance is turning into a nightmare for the Japanese company. The shares fell by 20 percent to 311.6 yen in Tokyo, following a 12 percent drop Tuesday.
Toshiba Says Nuclear Unit Faces Billions of Dollars in Charges
Toshiba Corp. warned that it may book a writedown of several billion dollars related to an acquisition made by U.S. unit Westinghouse Electric. The company’s shares fell 12 percent to 392 yen at the close in Tokyo on Tuesday, the biggest decline since December 2015, after earlier reports that it may book a loss of as much as 500 billion yen .
Asian shares mostly higher in thin trading ahead of New Year
Shares are mostly higher in Asia as trading for the last week of the year began Tuesday after most markets were closed for Christmas. Most benchmarks stayed in a narrow range.
Japan Display Secures New Lifeline From Government-Backed Fund
Japan Display Inc., which has struggled to deliver consistent profits since it was formed by a government-backed fund four years ago, is going back for more money. The Japanese maker of smartphone screens agreed to a 75 billion yen injection of cash from Innovation Network Corp. of Japan, which is already its largest shareholder.