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MarketScreener Homepage  >  Equities  >  Tokyo  >  Toshiba Corp    6502   JP3592200004

TOSHIBA CORP (6502)
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Toshiba : Kazatomprom has sold its stake in Westinghouse Electric Company

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12/29/2017 | 03:27pm CEST

Toshiba Corporation ('Toshiba') bought back from 'NAC 'Kazatomprom' JSC ('Kazatomprom') 10% stake in Westinghouse Electric Company ('Westinghouse'), in accordance with the terms of the 'Put Option Agreement' between the two companies.

Earlier this year, Kazatomprom exercised its rights under the put option, and today received a payment of US$ 522 million for its shares in Westinghouse.

Combined with dividends received during its ownership of Westinghouse shares of US$ 103 million, the total return on Kazatomprom's invested funds amounts to US$ 625 million, which exceeded the initial investments in Westinghouse Electric Company's shares by US$ 85 million.

To recall, Kazatomprom acquired shares of Westinghouse in 2007 from Toshiba for US$ 540 million. According to the terms of that deal, Kazatomprom had the right to sell its shares back to Toshiba at a fixed price of US$ 522 million under the Put Option Agreement.

In March 2017, American company Westinghouse (subsidiary of the Japanese corporation Toshiba) filed a petition for bankruptcy proceeding in accordance with Article 11 of the US Bankruptcy Code.

Contact:

Tel: +7 7172 45 80 63

Email: pr@kazatomprom.kz

(C) 2017 Electronic News Publishing, source ENP Newswire

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Financials (JPY)
Sales 2019 3 712 B
EBIT 2019 -
Net income 2019 1 042 B
Finance 2019 955 B
Yield 2019 -
P/E ratio 2019 1,89
P/E ratio 2020 12,05
EV / Sales 2019 0,33x
EV / Sales 2020 0,33x
Capitalization 2 178 B
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Number of Analysts 16
Average target price 374  JPY
Spread / Average Target 12%
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Nobuaki Kurumatani Chairman & Chief Executive Officer
Satoshi Tsunakawa President, Chief Operating Officer & Director
Masayoshi Hirata CFO, Director & Head-Finance Management
Hiroshi Yamamoto Chief Technology Officer
Shinichiro Akiba Director & Representative Executive Vice President
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