Now Toshiba has become a laughing stock in the world.
At the Toshiba Shareholders' General Meeting on March 31, the participating shareholders asked Toshiba President and CEO Akira Tokigawa to ask questions about Toshiba’s nuclear power business. Why Toshiba will be the laughing stock of the world.
In the face of doubts from shareholders, Toshiba’s chief executive Gang Chuan expressed an apology and said that the company would no longer face the risk of additional losses from overseas nuclear power projects. "Westinghouse's bankruptcy treatment can block overseas nuclear power risks and strive to revive through other businesses." Shareholders still angrily said, "Can not accept sudden huge loss."
In addition, Toshiba intends to sell more than half of the shares of TV subsidiary “Toshiba Image Solution†and hopes to complete the transaction as early as 2017 if conditions are met.
Toshiba’s series of “meat-cutting†measures can not help but worry people. Ultimately, it will stop the bleeding or push it to the abyss.
It is reported that Toshiba expects the company's net loss will be as high as 1 trillion yen (about 9 billion US dollars), this figure is one of the biggest losses in the history of Japanese companies.
In the face of the huge losses caused by the nuclear power business, Toshiba apparently has no choice but to find a way out. As early as January of this year, it was reported that Toshiba will spin off its semiconductor business to obtain funds. The rumors have been buzzing in recent days, attracting attention from companies such as Apple, Hynix and Foxconn.
What is very gratifying is that the new semiconductor company "Toshiba Memory", which was established on the 1st of this month, has attracted many people to chase. It is understood that in the first round of bids on March 29, about 10 companies took part in the bids, and even some companies offered programs that exceeded 2 trillion yen. Toshiba will be selected for sale in May.
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