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    6502   JP3592200004

TOSHIBA CORPORATION

(6502)
  Report
Delayed Japan Exchange  -  02:00 2022-09-30 am EDT
5148.00 JPY   -1.27%
09/30Toshiba bidders narrowed down to 2 company groups
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09/30Toshiba says it received multiple in-depth proposals in 2nd round
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09/30Toshiba says it received multiple 'in-depth' potential partnership requests
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Japan's Toshiba boosts profit on devices, auto sector demand

08/10/2022 | 04:38am EDT

TOKYO (AP) — Toshiba reported a 44% improvement in profit in the last quarter as the Japanese technology giant worked to revamp its brand image and reassure investors about its management.

Tokyo-based Toshiba Corp. said Wednesday that it recorded a 25.9 billion yen ($192 million) profit in the April-June period, up from 18 billion yen the year before. Quarterly sales rose nearly 2% to 740.7 billion yen ($5.5 billion).

Toshiba has promised to boost sales by forging ahead with clean energy, infrastructure projects, data services, devices and storage businesses. Profitability improved for electronic devices, storage and digital solutions, and demand was good from the auto sector, it said.

In March, investors rejected a company-backed reform proposal to split Toshiba into two businesses. An earlier plan that also was scrapped had called for a three-way split.

Toshiba has been studying privatization as it tries to move ahead with its restructuring plan. It has set up a special committee that includes outside directors to oversee restructuring efforts.

Founded in 1875, Toshiba was a revered Japanese brand behind electric rice cookers and laptop computers. It sold off its prized flash memory business as its fortunes tumbled.

The company has been struggling since the Fukushima nuclear disaster in March 2011. A tsunami sent three reactors into meltdowns, spewing radiation over an area that’s still partly a no-go zone. The company is involved in the decommissioning effort, which will take decades.

It also was embroiled in problems at its former U.S. nuclear unit Westinghouse Electric, which filed for bankruptcy protection in 2017.

Its reputation also was tarnished by an accounting scandal, which involved books being doctored for years.

Toshiba officials declined comment on the direction of its nuclear business, noting Wednesday's event was focused on financials. They said a review was continuing.

Yuri Kageyama is on Twitter https://twitter.com/yurikageyama

Copyright 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission., source Associated Press News

All news about TOSHIBA CORPORATION
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Analyst Recommendations on TOSHIBA CORPORATION
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Financials
Sales 2023 3 323 B 22 969 M 22 969 M
Net income 2023 189 B 1 305 M 1 305 M
Net Debt 2023 203 B 1 404 M 1 404 M
P/E ratio 2023 12,3x
Yield 2023 5,71%
Capitalization 2 227 B 15 394 M 15 394 M
EV / Sales 2023 0,73x
EV / Sales 2024 0,72x
Nbr of Employees 116 224
Free-Float 95,2%
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Mean consensus HOLD
Number of Analysts 8
Last Close Price 5 148,00 JPY
Average target price 4 997,50 JPY
Spread / Average Target -2,92%
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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