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    6502   JP3592200004

TOSHIBA CORPORATION

(6502)
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Toshiba to Appoint New Directors to Reform Corporate Governance

06/14/2021 | 12:02am EDT

By Megumi Fujikawa

Toshiba Corp. Board Chairman Osamu Nagayama said Monday that the company will look for new directors after a probe found it worked with the Japanese government against foreign shareholders.

"We would like to invite new resources with experience and intelligence necessary to take a heavy responsibility to rebuild Toshiba to our board of directors from inside or outside of Japan," Mr. Nagayama said at a news conference.

Mr. Nagayama said Toshiba will engage with its shareholders and listen to their opinions closely in selecting new directors.

On Sunday, Toshiba said two executives and two outside directors would resign after a report by outside lawyers released last week found that the company and the Ministry of Economy, Trade and Industry cooperated to block foreign shareholders from gaining board influence.

Write to Megumi Fujikawa at megumi.fujikawa@wsj.com

(END) Dow Jones Newswires

06-14-21 0202ET

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Financials
Sales 2022 3 243 B 29 450 M 29 450 M
Net income 2022 131 B 1 193 M 1 193 M
Net Debt 2022 161 B 1 458 M 1 458 M
P/E ratio 2022 15,9x
Yield 2022 3,96%
Capitalization 2 166 B 19 640 M 19 672 M
EV / Sales 2022 0,72x
EV / Sales 2023 0,69x
Nbr of Employees 117 300
Free-Float 93,4%
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Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 4 800,00 JPY
Average target price 4 933,50 JPY
Spread / Average Target 2,78%
EPS Revisions
Managers and Directors
Masayoshi Hirata Chief Financial Officer & Head-Accounting
Satoshi Tsunakawa President & Chief Executive Officer
Keiichi Yumita Head-Information Systems
Yutaka Sata Vice President-Research & Development
Yoshimitsu Kobayashi Independent Outside Director
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