| Over a month ago | ||||
Virtual Meeting to be… Virtual Meeting to be held on January 21 hosted by JPMorgan. | ||||
Virtual Meeting to be… Virtual Meeting to be held on January 21 hosted by JPMorgan. | ||||
Toshiba (TOSYY) has held… Toshiba (TOSYY) has held an emergency board meeting and urged Goldman Sachs (GS) for help as the company battles an unprecedented investor revolt, the Financial Times' Leo Lewis and Kana Inagaki report, citing the meeting and people close to the company. Toshiba, which has implemented several strategies to revive its business, faces to demands for extraordinary general shareholder meetings after being accused by investors of using "dark arts" to survive a shareholder vote in July. Reference Link | ||||
| Over a quarter ago | ||||
Activist fund Effissimo… Activist fund Effissimo Capital Management, the largest stakeholder in Toshiba, was kept in limbo by Japan's government over a key investor vote until the day before Toshiba's annual meeting, Reuters' Takashi Umekawa and Makiko Yamazaki report, citing two government sources. The postponed approval to hold the vote on appointing outside directors to the conglomerate's board shows how Japan's tighter rules on foreign ownership, introduced in June and aimed at protecting industries critical to national security, may also possibly be used to keep activist investors in check, the authors note. Reference Link | ||||
Toshiba's chairman… Toshiba's chairman Yoshimitsu Kobayashi says the company is halfway to recovering public trust, but still has a long way to go five years after the discovery of an accounting scandal, Jada Nagumo of Nikkei Asian Review reported, citing an interview with Kobayashi. Kobayashi took control of the board after the scandal exposed years of extensive accounting irregularities at the company. Toshiba's stock has reportedly never recovered from levels before the April 2015 fraud was revealed. Reference Link | ||||
Toshiba plans to… Toshiba plans to gradually unwind its stake in memory chip business Kioxia Holdings in an effort to distance group earnigns from the volatile semiconductor sector, Nikkei Asian Review's Takayuki Yao reports. Reference Link | |
Toshiba intends to start… Toshiba intends to start a four-day workweek in June for staff on the plant floor, that gives employees one additional day off but will see them working longer hours on the days on duty, maintaining the annual work hours, Nikkei Asian Review's Takayuki Yao reports. The move is part of a wider effort to help contain the spread of COVID-19 by shrinking the number of people coming to work and minimizing the exposure to risk through less commuting, the author notes. Of Toshiba's approximately 76,000 employees, its roughly 10,000 factory staff will transition to a four-day week, the author says. Reference Link | |
UBS analyst Kenji Yasui… UBS analyst Kenji Yasui earlier downgraded Toshiba to Neutral from Buy with a price target of 2,800 yen, down from 4,300 yen. | |
Xperi (XPER) announced… Xperi (XPER) announced that it reached an agreement with Toshiba (TOSBF,TOSYY) to settle and dismiss the pending litigation between Tessera, Inc. and Toshiba. The terms and conditions of the settlement agreement are confidential. |