Key Developments: Toshiba Corp (TOSBF.PK)
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21 May 2013
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Latest Key Developments (Source: Significant Developments)
Advanced Semiconductor Engineering Inc's ASE Assembly & Test (Shanghai) Limited To Acquire Shares Of Wuxi Tongzhi Microelectronics Co., Ltd. From Toshiba Corp's Toshiba Semiconductor (Wuxi) Co., Ltd
Advanced Semiconductor Engineering Inc announced that in order to strengthen the capability of its Shanghai subsidiary for providing IC assembly and testing services, ASE will procure its wholly-owned subsidiary, ASE Assembly & Test (Shanghai) Limited (the ASESH) to enter into an equity interests transfer agreement (the EITA) with Toshiba Semiconductor (Wuxi) Co., Ltd. (TSW) ( a subsidiary of Toshiba Corporation). Under the EITA, ASESH will pay CNY70 million to TSW to acquire 100% shares in Wuxi Tongzhi Microelectronics Co., Ltd. held by TSW. Full Article
S&P Affirms Toshiba Corp's Rating at "BBB"; Changes Rating Outlook to Negative- KABDAS Express
KABDAS Express reported that Standard & Poor's announced that it has affirmed the rating on Toshiba Corp at “BBB” and changed the rating outlook from stable to negative. Full Article
Advanced Semiconductor Engineering Inc to Acquire China-based Company from Toshiba Corp- InfoTimes
InfoTimes reported that Advanced Semiconductor Engineering Inc announced that it will acquire a 100% stake in a Wuxi-based microelectronics company from Toshiba Corp for RMB 70 million in total. The Wuxi-based company is mainly engaged in operation of semiconductor testing and packaging factories in Mainland, China. Full Article
Toshiba Corp to Build Solar Plants in Japan with SunEdison-Nikkei
Nikkei reported that Toshiba Corp and U.S. firm SunEdison have agreed to jointly build solar power plants in the growing Japanese market by sharing core components and technologies. SunEdison, which is a builder of megasolar plants, will make a full entry into electricity sales in Japan through the partnership. Toshiba anticipates JPY 270 billion in orders for construction of power-plant-related facilities by the end of fiscal year 2013 and SunEdison is to sell the power generated at the plants. Toshiba aims to build large megasolar facilities with an output of around 100,000 kilowatts (kw) each. Full Article
Aeon Credit Service Co Ltd to Fully Acquire TOSHIBA FINANCE CORPORATION from Toshiba Corp
Aeon Credit Service Co Ltd announced that it has decided to acquire 39,203,360 shares (100% stake) of TOSHIBA FINANCE CORPORATION, for JPY 6,100 million, form Toshiba Corp, on May 16, 2013. Full Article
Toshiba Corp Changes Year-end Dividend Forecast for FY 2013
Toshiba Corp announced that it has changed its year-end dividend forecast from an undetermined value to JPY 4 per share, for the fiscal year ending March 2013. Full Article
Toshiba Corp Appoints New President
Toshiba Corp announced that it has appointed Hisao Tanaka as the new President of the Company, to replace Norio Sasaki, effective June 2013. Full Article
Toshiba Corp And General Electric Co Enter Global Strategic Alliance-Reuters
Reuters reported that Toshiba Corp and General Electric Co will enter a global strategic alliance to develop and sell fossil-fuel power equipment and consider a joint venture in the business, the firms said. Under the memorandum of understanding signed on January 23, 2013 Toshiba and GE said they will explore the formation of a strategic joint venture for the development of new combined-cycle power projects with higher levels of thermal efficiency. Full Article
TOSHIBA CORP to Issue Corporate Bonds
TOSHIBA CORP announced that it will issue a JPY 30 billion 53rd series unsecured corporate bonds, each with a face value of JPY 1 million, effective January 28, 2013. The details regarding the bond issue are as follows: maturity on January 27, 2017, issue price at JPY 100 per face value of JPY 100, interest rate 0.62%. Nomura Securities Co., Ltd., Daiwa Securities Co., Ltd., Mizuho Securities Co., Ltd. and SMBC Nikko Securities Inc. will act as underwriters in the offering. Full Article
TOSHIBA CORP Acquires Stake in Westinghouse from Shaw Group Inc
TOSHIBA CORP announced that it has acquired a 20% stake in Westinghouse from Shaw Group Inc, for approximately JPY 125 billion on January 4, 2013. After the transaction, TOSHIBA CORP holds an 87% stake in Westinghouse. Full Article
Japan's Toshiba sees 34 percent jump in profit in FY 2013/14
TOKYO - Japan's Toshiba Corp forecast a 34 percent jump in operating profit for this fiscal year, boosted by strong sales of its flash memory chips, but the outlook fell short of market expectations as it struggles to turn around its TV division.
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