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Industrial Conglomerates

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GE- Review For GE Capital’S Run-Off Insurance Portfolio, Nalh, Will Result In An After-Tax GAAP Charge Of $6.2 Bln For Q4 2017

Tuesday, 16 Jan 2018 08:12am EST

Jan 16 (Reuters) - General Electric Co ::GE- REVIEW FOR GE CAPITAL’S RUN-OFF INSURANCE PORTFOLIO, NALH, WILL RESULT IN AN AFTER-TAX GAAP CHARGE OF $6.2 BILLION FOR Q4 2017.GENERAL ELECTRIC CO - INSURANCE REVIEW TO HAVE NO IMPACT TO INDUSTRIAL BUSINESS AND 2018 CAPITAL ALLOCATION PLAN‍​.GE- GE CAPITAL EXPECTS TO MAKE STATUTORY RESERVE CONTRIBUTIONS OF ABOUT $15 BILLION OVER SEVEN YEARS.GENERAL ELECTRIC CO - GE CAPITAL TO FUND CONTRIBUTIONS AND SUSPEND DIVIDEND TO GE FOR "FORSEEABLE FUTURE".GE- NALH’S PRIMARY REGULATOR APPROVED A PHASED CONTRIBUTION OF ABOUT $3 BILLION IN 1Q’18 AND ABOUT $2 BILLION ANNUALLY FROM 2019 THROUGH 2024.GE - ONGOING ACTIONS OVER NEXT TWO YEARS "TO MAKE GE CAPITAL SMALLER, MORE FOCUSED AND RESTORE ITS CAPITAL RATIOS TO APPROPRIATE LEVELS".GE - GOODWILL AND OTHER NON-CASH IMPAIRMENTS OF $1.8 BILLION AFTER-TAX RELATED TO GE CAPITAL ACTIONS‍​.GE - EXPECTS $9.5 BILLION PRE-TAX, $6.2 BILLION AFTER-TAX GAAP CHARGE IN Q4; $7.5 BILLION AFTER-TAX IMPACT AT 21% TAX RATE (POST U.S. TAX REFORM).GE CEO SAYS "CHARGE OF THIS MAGNITUDE FROM A LEGACY INSURANCE PORTFOLIO IN RUN-OFF FOR MORE THAN A DECADE IS DEEPLY DISAPPOINTING".

Toshiba updates shares transfer plan

Sunday, 14 Jan 2018 08:29pm EST

Jan 15(Reuters) - Toshiba Corp <6502.T>:Says it will sell 13.8 million shares (about 26.5 percent stake) in Shibaura Mechatronics Corp <<<6590.T>>>, at the price of 425.89 yen per share.Says previous plan was announced on Dec. 4, 2017.

Toshiba units to implement personnel measures including early retirement incentive program

Friday, 12 Jan 2018 02:53am EST

Jan 12 (Reuters) - Toshiba Corp <6502.T>:Says co's units Toshiba Infrastructure Systems & Solutions Corporation and Toshiba Energy Systems & Solutions Corporation decided to implement personnel reallocation and early retirement incentive programs with support of outplacement .Both programs will be open to candidates in corporate staff functions aged 50 and above, and are expected to cover about 50 employees in each unit.Application will be accepted from February and the accepted applicants will leave by the end of March.In addition to a standard retirement payment, the accepted applicants will also receive a special severance payment and outplacement support if they need .

Doosan to merge with DIP Holdings

Monday, 18 Dec 2017 04:07am EST

Dec 18 (Reuters) - Doosan Co Ltd <000150.KS> ::Says it will merge with DIP Holdings Co., Ltd, and merge ratio is 1:0 between the co and DIP Holdings .Says merger effective date is March 1, 2018.

Toshiba unit to streamline through early-retirement incentive program

Tuesday, 28 Nov 2017 09:51pm EST

Nov 29 (Reuters) - Toshiba Corp <6502.T>:Says unit Toshiba Digital Solutions Corp (TDSL) resolves to implement a personnel reallocation and early-retirement incentive program with outplacement support.The retirement program will invite applications from candidates 53 years old or older who have worked for TDSL for 10 years or more, excluding employees who are worked in new business promoting division and highly skilled professional division .Says the personnel reallocation and early-retirement incentive program is expected to include about 300 employees .Says TDSL will start to accept applications from January 2018 and accepted applicants will leave TDSL by the end of March 2018.Says TDSL will provide retirement payment, special severance payment and outplacement support to accepted applicants .

Hitachi to transfer medical equipment related business to Hitachi Medical Computer Systems

Wednesday, 15 Nov 2017 03:59am EST

Nov 15 (Reuters) - Hitachi Ltd <6501.T>:Says it will transfer medical equipment related maintenance service and electronic medical business to wholly owned unit, Hitachi Medical Computer Systems,inc., effective April 1, 2018 .

GE says to focus on Aviation, Power, Healthcare

Monday, 13 Nov 2017 07:44am EST

Nov 13 (Reuters) - General Electric Co ::GE says to focus on Aviation, Power, Healthcare - GE investor update.

General Electric CEO Flannery plans to focus on GE’s aviation, power, health-care divisions- WSJ‍​

Monday, 13 Nov 2017 12:10am EST

Nov 13 (Reuters) - :General Electric CEO Flannery plans to unveil road map monday to focus on GE's aviation, power, health-care divisions- WSJ, citing a source ‍​.General Electric CEO CEO will look to exit most of the rest of GE's operations - WSJ, citing a source‍​.CEO says company plans to eventually shed its majority stake in Baker Hughes - WSJ.

Mitsubishi Heavy Industries to transfer business to units

Thursday, 2 Nov 2017 02:50am EDT

Nov 2 (Reuters) - Mitsubishi Heavy Industries Ltd <7011.T>:Says it plans to transfer ship & ocean related business to Kanagawa-based wholly owned shipbuilding unit on Jan. 1, 2018.Says it plans to transfer ocean steel structure related business to wholly owned steel structure unit on Jan. 1, 2018.Says it plans to transfer chemical plant and transportation product related engineering business to wholly owned transportation systems unit on Jan. 1, 2018.Says it plans to transfer hydraulic machinery related business to unit Mitsubishi Heavy Industries Machinery Systems Ltd and a wholly owned shipbuilding unit on Jan. 1, 2018.

Mitsubishi Heavy Industries to merge with ship unit

Thursday, 2 Nov 2017 02:32am EDT

Nov 2 (Reuters) - Mitsubishi Heavy Industries Ltd <7011.T>:Says it plans to merge with Nagasaki-based ship unit and take over partial assets and liabilities from the unit on Jan. 1, 2018.Says unit will be dissolved after merger .

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