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    6502   JP3592200004

TOSHIBA CORPORATION

(6502)
  Report
Delayed Japan Exchange  -  01:00 2022-12-09 am EST
4553.00 JPY   +4.40%
12/09Toshiba's preferred bidder moving closer to securing financing for buyout -sources
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12/09Toshiba Electronic Devices & Storage Corporation and Toshiba Corporation Develop SiC MOSFET with Embedded Schottky Barrier Diode That Delivers Low On-Resistance and High Reliability
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Chubu Electric, Orix Reportedly Mulls Investing in Toshiba

09/19/2022 EST

Chubu Electric Power Company, Incorporated (TSE:9502) and leasing firm ORIX Corporation (TSE:8591) are considering investing in embattled Japanese technology conglomerate Toshiba Corporation (TSE:6502), informed sources said on September 18, 2022. The two Japanese firms are believed to be mulling their participation in a Japanese fund that is one of the four bidders set to advance to a second round of bidding to take over Toshiba. Each bidder will conduct due diligence and submit a renewed buyout proposal.

The result of the second round of bidding will come out later this month at the earliest. The four bidders are the Japanese fund created by Japan Industrial Partners Inc. and Japan Investment Corp., British investment fund CVC Capital Partners and its U.S. and Canadian peers, Bain Capital and Brookfield Business Partners. Brookfield has proposed a capital alliance that would keep Toshiba public, while the other three have proposed a buyout that would take the company private, according to the sources.

Chubu Electric, which has close ties with Toshiba in the business of nuclear and thermal power generation, is examining whether synergistic effects can be achieved through the buyout, according to a public relations official of the power company. As Toshiba's operations include nuclear power and defense, areas closely linked to Japan's national security, any buyout by a foreign investor will be subject to scrutiny under the foreign exchange law. This is why some consider that a Japanese bidder has an advantage.


ę S&P Capital IQ 2022
Stocks mentioned in the article
ChangeLast1st jan.
CHUBU ELECTRIC POWER CO., INC 1.66% 1288 Delayed Quote.4.54%
ORIX CORPORATION 0.63% 2173.5 Delayed Quote.-7.99%
TOSHIBA CORPORATION 4.40% 4553 Delayed Quote.-7.80%
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Analyst Recommendations on TOSHIBA CORPORATION
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Financials
Sales 2023 3 333 B 24 441 M 24 441 M
Net income 2023 181 B 1 328 M 1 328 M
Net Debt 2023 296 B 2 170 M 2 170 M
P/E ratio 2023 11,0x
Yield 2023 6,37%
Capitalization 1 970 B 14 445 M 14 445 M
EV / Sales 2023 0,68x
EV / Sales 2024 0,67x
Nbr of Employees 116 224
Free-Float 95,2%
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Mean consensus HOLD
Number of Analysts 7
Last Close Price 4 553,00 JPY
Average target price 4 886,43 JPY
Spread / Average Target 7,32%
EPS Revisions
Managers and Directors
Taro Shimada President, Chief Executive Officer & Director
Masayoshi Hirata CFO, Head-Accounting & Finance Management
Keiichi Yumita Head-Information Systems
Yutaka Sata Head-Technology Planning, R&D Center
Hideaki Ito Head-Technology Planning, R&D Center
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