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    6502   JP3592200004

TOSHIBA CORPORATION

(6502)
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Delayed Japan Exchange  -  02:00 2022-08-12 am EDT
5254.00 JPY   +0.38%
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Tepco considering joining Japan investment partners to bid for Toshiba -Bloomberg

07/05/2022 | 09:35am EDT
FILE PHOTO: Logo of Toshiba Corp is seen as Window cleaners work on the company's headquarters in Tokyo

TOKYO (Reuters) - Tokyo Electric Power Co (Tepco) is considering joining a partnership between state-backed Japan Investment Corp and Japan Industrial Partners to bid for Toshiba Corp, Bloomberg News reported, citing people familiar with the matter.

Tepco, Japan's top utility, is eyeing the Japanese conglomerate's nuclear business, the report said on Tuesday.

Toshiba said last month it had received eight initial buyout proposals and two proposals for capital alliances that would see it remain listed.

Domestic funds, including JIC, and a number of strategic players are looking to see how they can participate in a deal, sources have previously told Reuters.

The participation of local funds is seen as critical as some of Toshiba's key businesses - including defence equipment and nuclear power - are seen as strategically important to the Japanese government.

Toshiba and Tepco could not immediately be reached outside office hours.

KKR & Co Inc, Baring Private Equity Asia, Blackstone Inc, Bain Capital, Brookfield Asset Management, MBK Partners, Apollo Global Management and CVC Capital Partners have submitted initial bids, sources have said.

Some of them may form consortia for a bid, they have said.

(Reporting by Chang-Ran Kim; editing by David Evans)


© Reuters 2022
Stocks mentioned in the article
ChangeLast1st jan.
APOLLO GLOBAL MANAGEMENT, INC. 1.50% 60.89 End-of-day quote.-15.93%
BLACKSTONE INC. 2.62% 108.79 Delayed Quote.-15.92%
BROOKFIELD ASSET MANAGEMENT INC. 0.22% 68.55 Delayed Quote.-10.26%
KKR & CO. INC. 1.09% 57.12 Delayed Quote.-23.33%
TOKYO ELECTRIC POWER COMPANY HOLDINGS, INC. -0.20% 499 Delayed Quote.68.01%
TOSHIBA CORPORATION 0.38% 5254 Delayed Quote.11.08%
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Analyst Recommendations on TOSHIBA CORPORATION
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Financials
Sales 2023 3 336 B 24 971 M 24 971 M
Net income 2023 182 B 1 364 M 1 364 M
Net Debt 2023 190 B 1 423 M 1 423 M
P/E ratio 2023 13,8x
Yield 2023 5,64%
Capitalization 2 273 B 17 014 M 17 014 M
EV / Sales 2023 0,74x
EV / Sales 2024 0,73x
Nbr of Employees 116 224
Free-Float 95,2%
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Mean consensus HOLD
Number of Analysts 8
Last Close Price 5 254,00 JPY
Average target price 5 166,25 JPY
Spread / Average Target -1,67%
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Managers and Directors
Taro Shimada President & Chief Executive Officer
Masayoshi Hirata CFO, Head-Accounting & Finance Management
Keiichi Yumita Head-Information Systems
Yutaka Sata Vice President-Research & Development
Hideaki Ito Head-Technology Planning, R&D Center
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