πŸ‘‰ Relocate to Canada Today!

Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada

MetroNewsSociety

End of an era for electronics giant Toshiba

Toshiba, once a symbol of Japan’s electronics industry dominance, has experienced a dramatic fall from grace, culminating in its delisting and ending a 74-year history with the Tokyo stock exchange. The root of Toshiba’s troubles can be traced back to 2015 when significant accounting malpractices involving top management were uncovered. For seven years, the company had overstated its profit by $1.59 billion.

The situation worsened in 2020 with the discovery of more accounting irregularities. Allegations around poor corporate governance and contentious shareholder decision-making processes further tarnished Toshiba’s reputation. In 2021, an investigation revealed that Toshiba had colluded with Japan’s trade ministry to undermine the interests of foreign investors, raising concerns among global investors about the reliability of Japanese stocks.InformationGuideNigeria


πŸ‘‰ Relocate to Canada Today!

Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada

Read Other News:

Toshiba’s woes intensified in late 2016 when it faced several billion dollars in charges related to the construction of a nuclear power plant by its US unit, Westinghouse Electric. The subsequent bankruptcy of Westinghouse in 2017 plunged Toshiba into a deep crisis, with its nuclear business collapsing and liabilities exceeding $6 billion.

To salvage its financial situation, Toshiba was forced to sell various businesses, including its mobile phones, medical systems, white goods, and even its prized chip unit, Toshiba Memory. These sales occurred during a period when most companies were investing in technology and innovation, leaving Toshiba in a precarious position.JAMB Result

By the end of 2017, Toshiba managed to avoid a forced delisting thanks to a $5.4 billion cash injection from overseas investors. However, this led to greater influence from activist shareholders, resulting in internal conflicts that hampered the company’s operations.NYSC Portal

After much debate about splitting into smaller companies, Toshiba considered privatization. In June 2022, it received eight buyout proposals and later confirmed a takeover by a consortium led by Japan Investment Corp (JIC) for $14bn. The new focus, according to Toshiba’s outgoing chairman, will be on high-margin digital services.

While Japan Industrial Partners (JIP) has a history of successfully carving out businesses from major manufacturers, the challenge with Toshiba is considerably larger. Toshiba is a vast company with about 106,000 employees, and its operations are integral to national security, making the stakes in its turnaround exceptionally high.

Check JAMB Result

Check and Confirm: How much is Dollar to Naira

πŸ‘‰ Relocate to Canada Today!

Live, Study and Work in Canada. No Payment is Required! Hurry Now click here to Apply >> Immigrate to Canada

πŸ“’ We are hiring writers!

Article Writing Jobs - We are hiring good freelance writers - Click here to apply

Copyright Warning!

Contents on this website may not be republished, reproduced, or redistributed either in whole or in part without due permission or acknowledgment. . Proper acknowledgment includes, but not limited to (a) LINK BACK TO THE ARTICLE in the case of re-publication on online media, (b) Proper referencing in the case of usage in research, magazine, brochure, or academic purposes,. . All contents are protected by the Digital Millennium Copyright Act 1996 (DMCA). . . The images, except where otherwise indicated, are taken directly from the web, if some images were inserted by mistake violating the copyright, please contact the administrator for immediate removal.
. We publish all content with good intentions. If you own this content & believe your copyright was violated or infringed, please contact usΒ  for immediate removal.

Emediong Silver

Emediong Ekpe is a graduate of English. A professional Sports journalist/analyst, and a spoken word artist. He is passionate about decimating information and putting smiles on people's faces via news writing. Whatapp: 08088735884

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button

It looks like you're using an ad blocker!

This website InfoGuideNigeria.com is maintained by the advertising revenue and we noticed you have ad-blocking enabled. Please disable Ad-Blocker