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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Toshiba Corporation    6502   JP3592200004

TOSHIBA CORPORATION

(6502)
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Toshiba : to Reorganize Management Structure of Companies Offering Corporate Staff Services

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09/25/2019 | 10:58pm EDT

TOKYO-Toshiba Group (TOKYO: 6502) has announced that it will unify four companies that are part of its corporate staff function into a single company. The reorganization will become effective on November 1, 2019, when Toshiba Human Resources Development Corporation (hereinafter HRD), Toshiba Human Asset Service Corporation (HAS), Toshiba IPR Solutions, Inc. (TIPRS) and Manufacturing Solution Company (MSC) will merge as Toshiba Business Expert Corporation.

The four companies provide Toshiba Group with expert corporate staff functions: HRD provides services for human resources development and training; HAS provides support services for human resources; TIPRS provides services in intellectual property; and MSC provides services for manufacturing engineering and development. Their merger will bring together know-how in service provision and operational methods cultivated by each company, and support refinement of the services offered by Toshiba Business Expert Corporation, along with more efficient management and optimization of operating costs. Toshiba will also integrate the headquarter functions responsible for liaising with the four companies into the Group Relations Division, a management organization established in April 2019. Centralized communication with the new company is expected to realize swift execution of business strategies and enhance governance.

This merger is part of the internal reforms and restructuring to improve financial status promoted in the Toshiba Next Plan, Toshiba's five-year transformation plan.

Outline of the new company
1. Name: Toshiba Business Expert Corporation
2. Address: 555 Toriyama-cho, Kita-ku, Yokohama-shi, Kanagawa
3. Representative: Not decided
4. Capital stock: 40 million yen
5. Headcount: Approximately 280
6. Business outline: i) Planning and provision of assistance in education and training, consulting,
developing educational support systems, educational facility management and
operation
ii) International staff support
iii) Intellectual Property (IP) licensing business, IP trust business (inter-group trust),
support service for IP related licensing and contracts, IP acquisition service, IP
search and analyzing service, IP related affairs and operation service
iv) Use of manufacturing know-how and cutting-edge manufacturing technology to
provide design and prototyping services, tools, and educational opportunities

Disclaimer

Toshiba Corporation published this content on 26 September 2019 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 September 2019 02:57:08 UTC

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Financials
Sales 2020 3 410 B 31 764 M 31 764 M
Net income 2020 -124 470 M -1 159 M -1 159 M
Net cash 2020 509 B 4 739 M 4 739 M
P/E ratio 2020 -13,4x
Yield 2020 0,74%
Capitalization 1 628 B 15 151 M 15 168 M
EV / Sales 2019
EV / Sales 2020 0,33x
Nbr of Employees 132 000
Free-Float 90,7%
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 3 805,00 JPY
Last Close Price 3 590,00 JPY
Spread / Highest target 44,8%
Spread / Average Target 5,99%
Spread / Lowest Target -13,6%
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Managers
NameTitle
Nobuaki Kurumatani President, CEO & Representative Director
Satoshi Tsunakawa Chairman
Masayoshi Hirata Chief Financial Officer & Head-Accounting
Keiichi Yumita Head-Information Systems
Yutaka Sata Vice President-Research & Development
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