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Toshiba warns it may be unable to stay in business


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#1 JohnC_21

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Posted 11 April 2017 - 06:57 AM

Hopefully a company will buy the consumer electronics division.

 

TOKYO-- Toshiba Corp. on Tuesday expressed doubt for the first time over whether it can continue as a going concern, citing huge losses at its U.S. nuclear subsidiary after the subsidiary's bankruptcy filing last month.

The company issued the warning alongside its earnings for the December quarter. It released the earnings after two delays, but it had to do so without the approval of its auditor.

In the earnings report, Toshiba reiterated that it anticipates a net loss of Yen1.01 trillion ($9.1 billion) for the fiscal year ended March 31, 2017.

The loss stems from loan guarantees and other obligations related to nuclear-reactor projects by Toshiba subsidiary Westinghouse Electric Co. in the U.S. The projects have seen huge cost overruns.

 

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#2 hamluis

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Posted 11 April 2017 - 07:09 AM

Toshiba is a very large and diverse conglomerate.  Another article of note more related to technology, semiconductors, drives...may be found at https://toshiba.semicon-storage.com/us/company/taec/news/2017/03/storage-20170307-1.html .

 

Repercussions from any failure will generate much wider ripples than solely in the hard drives/SSDs markets.

 

Financial Statements

 

Louis


Edited by hamluis, 11 April 2017 - 07:13 AM.


#3 britechguy

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Posted 11 April 2017 - 09:35 AM

Well, if they go under you can rest assured that the "going concerns" portions of their business will be sold off - lock, stock, and barrel - to someone who will keep them going.

 

I imagine we'll have quite a few Toshiba products out there even if it isn't Toshiba that's manufacturing them.  One need only look at the HDD business to see the whole "wholly acquire but keep well-established brand names for marketing purposes" system writ large.


Brian  AKA  Bri the Tech Guy (website in my user profile) - Windows 10 Home, 64-Bit, Version 1803, Build 17134 

      Memory is a crazy woman that hoards rags and throws away food.

                    ~ Austin O'Malley

 

 

 

              

 





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