6502.T - Toshiba Corporation

Tokyo - Tokyo Delayed Price. Currency in JPY
3,785.00
+5.00 (+0.13%)
As of 10:01AM JST. Market open.
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Previous Close3,780.00
Open3,765.00
Bid3,780.00 x 0
Ask3,785.00 x 0
Day's Range3,740.00 - 3,795.00
52 Week Range2,842.00 - 3,980.00
Volume706,100
Avg. Volume2,026,709
Market Cap1.779T
Beta (3Y Monthly)0.75
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield20.00 (0.56%)
Ex-Dividend Date2019-09-27
1y Target EstN/A
  • Toshiba sues former employee of U.S. unit, citing fraud
    Reuters

    Toshiba sues former employee of U.S. unit, citing fraud

    Toshiba Corp said on Thursday it filed a lawsuit against a former employee of a U.S. unit for conspiring with a contractor and defrauding the Japanese industrial conglomerate. Toshiba said in a statement its internal assessment had found evidence that a former facility manager at Houston-based Toshiba International directed work to a construction contractor at inflated prices and received kickbacks. Toshiba is still investigating the scale of damages from the fraudulent transactions, which started no later than 2011, as well as whether any other employees were involved in the fraud.

  • Bloomberg

    Western Digital CEO Milligan Announces Retirement, Stock Drops

    (Bloomberg) -- Western Digital Corp. Chief Executive Officer Steve Milligan, who led the company’s attempt to reshape the computer data-storage industry, has announced he will retire.Milligan will continue in his post until the company finds a successor, Western Digital said Wednesday in a statement. He has been the San Jose, California-based company’s top executive since 2013. Western Digital’s stock dropped more than 10% in extended trading after the announcement.The outgoing executive led the company’s attempt to transform itself as the computer industry moved away from its complete reliance on hard disk storage. He led the acquisition of computer chipmaker SanDisk Corp. and a number of deals that reshaped the industry. Milligan also pushed Western Digital’s failed attempt in 2017 to take control of a joint venture partnership with Toshiba Corp.To contact the reporter on this story: Ian King in San Francisco at ianking@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Andrew Pollack, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters

    Billions of euros, millions of jobs: Europe's carmakers warn on no-deal Brexit

    A month before Britain is due to quit the European Union, the bloc's car-makers have joined forces to warn of billions of euros in losses in the event of a no-deal Brexit with production stoppages costing 50,000 pounds a minute in Britain alone. Britain is scheduled to quit the EU on October 31 but businesses have grown increasingly concerned at Prime Minister Boris Johnson's apparent lack of progress towards a new withdrawal deal to replace the proposals of his predecessor Theresa May, which the British parliament rejected three times. In a statement, groups including the European Automobile Manufacturers' Association, the European Association of Automotive Suppliers and 17 national groups warned of the impact of "no-deal" on an industry which employs 13.8 million people in the European Union including Britain, or 6.1% of the workforce.

  • Reuters

    UPDATE 1-Chile taps China, Japan in lithium-for-tech push, faces tough sell

    Chile is making a renewed push for battery technology investment in return for access to its lithium deposits, piquing interest from China, Japan and Europe as global firms look to tie up supply of the metal vital for the shift to electric vehicles. The South American country, the world's No. 2 lithium producer, has held global road shows ahead of a second lithium-for-investment tender, according to officials and Chilean government documents seen by Reuters.

  • Bloomberg

    Amazon to Expand TV Business Across Much of Europe

    (Bloomberg) -- Amazon.com Inc. is angling for a larger share of European television viewers.The company plans to introduce Fire TV to a handful of new markets and expand its footprint in existing ones such as the U.K. and Germany, according to people familiar with the situation. Amazon will detail its plans, including deals with media companies, at an event in Europe next week, said the people, who asked not to be identified discussing an initiative that hasn’t been announced yet.Amazon’s Fire TV is the service that viewers use to stream catalogs of shows and movies belonging to Netflix and Amazon itself on their TVs. The company declined to comment.With more and more viewers canceling their cable subscriptions, Amazon wants Fire TV to become the de facto cable box of the internet era. The company offers a suite of products: a Fire TV set-top box, a stick that can be hooked up to a TV and an operating system that can be embedded in smart TVs from third-party manufacturers.Amazon uses Fire TV to boost usage of its Prime Video app, which is one of the biggest streaming services in the world because it’s bundled with the Prime shopping subscription service, which has more than 100 million users. The company also use Fire TV to gather viewer data that it can sell to advertisers. Advertising on internet-delivered video services is one of the fastest-growing categories in the world.Amazon is the second-biggest player in online TV operating systems and set-top boxes after Roku Inc., which created the market. Both companies say they have tens of millions of user accounts, and outside analysts say they control about 70% of the market combined. Roku leads with almost 40%.But neither company has established a large foothold outside North America. Roku has expanded to Mexico and much of Western Europe, but still derives almost all of its users and sales from its home country.Amazon last year cut a North American deal with Best Buy to sell TVs made by Insignia and Toshiba with Fire TV baked in. Those models aren’t available in European markets, where Amazon’s presence is generally limited to sales of various versions of the Fire TV Stick.To contact the reporters on this story: Lucas Shaw in Los Angeles at lshaw31@bloomberg.net;Matt Day in Seattle at mday63@bloomberg.netTo contact the editors responsible for this story: Nick Turner at nturner7@bloomberg.net, Robin AjelloFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Bloomberg

    How an Obscure Rubber Company Became a Linchpin of Tech Industry

    (Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. When Japan decided to step up its fight with South Korea last month, it dug deep into the supply chain to impose sanctions on three obscure materials made by a handful of Japanese companies few have ever heard of.The most powerful weapon in Tokyo’s campaign against its neighbor turned out to be a half-dozen or so niche firms with names like JSR Corp., Shin-Etsu Chemical Co. and Tokyo Ohka Kogyo Co. They make fluorinated polyimide, hydrogen fluoride and photo-resist: essential ingredients for the manufacture of the displays and semiconductors that go into every piece of modern consumer electronics, from Apple Inc. iPhones and Dell Technologies Inc. laptops to the full range of Samsung Electronics Co. devices. Japan prohibited the export of those materials, allowing an exception only if suppliers secure a license and renew that license regularly.How did they become so indispensable? And how did they manage to stay on top even after their Japanese clients ceded the chip and display markets to Taiwanese and South Korean rivals? The answer lies in a series of well-timed investments decades ago, combined with a willingness to explore foreign markets and an unceasing refinement of manufacturing standards too exacting for anyone else to try and match.“JSR is an interesting case in that they became big in photo-resists because they succeeded overseas first,” said Damian Thong, an analyst at Macquarie Group Ltd. “And much of this success was because of the strategy of one man — Mitsunobu Koshiba.”The JSR chairman’s story shows just how hard it would be for a newcomer to fill the shoes of one of these suppliers. Koshiba spearheaded the company’s pivot into photo-resists, a light-sensitive liquid used to imprint circuits as narrow as a few strands of DNA onto silicon wafers in a process called lithography. Gadgets keep getting slimmer, more powerful and cheaper because chip companies are able to etch ever smaller circuit patterns onto silicon. When it comes to the most advanced chip processes, JSR is one of the few that can deliver the goods.When 25-year-old Koshiba joined JSR in 1981, the company’s biggest business was still tire rubber. (The name is an abbreviation of Japan Synthetic Rubber.) As luck would have it, photo-resist at that time used resins that JSR had access to for its existing business, and the company saw an opportunity to break into a new growth industry. Japanese semiconductor makers were just beginning their rise to global dominance, and suppliers were positioning themselves to go along for the ride.The problem for JSR was it didn’t belong to any of the local keiretsu, a grouping of suppliers that receives preferential access to contracts. And the company was also up against Tokyo Ohka or TOK, the first in Japan to manufacture photo-resist. By the mid-1980s, TOK controlled as much as 90% of the domestic market.“As a neutral company without keiretsu affiliations, we had to look outside Japan,” Koshiba said in an interview, outlining JSR’s decades-long rise but declining to talk in detail about sensitive trade negotiations now underway between Tokyo and Seoul.JSR’s decision to get into that market was bold but Koshiba seemed like the right person for the job. He’d spent two years studying materials science at the University of Wisconsin-Madison on a Rotary Club scholarship, was one of the few English speakers at the company and was eager to work abroad. In 1990, JSR sent him to Belgium to set up a photo-resist joint venture with the country’s biopharmaceutical giant UCB SA. The goal was to target the American market.As timing would have it, JSR was going overseas just as Japan was approaching the peak of its semiconductor prowess. That same year, NEC Corp., Toshiba Corp. and Hitachi Ltd. were the world’s biggest chipmakers, pushing aside Intel Corp. and Texas Instruments Inc. Japanese firms occupied six spots in the industry’s top 10 ranking by revenue, a level of concentration that hasn’t been matched by any country since, according to IC Insights.Japan’s seemingly unshakable control of the computer memory market gave the country renewed national confidence. The mood was reflected in the book “The Japan That Can Say No,” in which right-wing politician Shintaro Ishihara and Sony Corp. co-founder Akio Morita argued for a more muscular foreign policy. In an eerie echo of recent events, the authors contended that the Japanese government had the power to determine the outcome of the Cold War just by directing its national companies to sell the chips used in intercontinental ballistic missiles (ICBMs) to the Soviets instead of the U.S.But the Cold War ended before that theory could be tested. Over the following decade, personal computers overtook ICBMs as the primary destination for chips and demand shifted to prioritize low unit costs over military-spec quality. By 2006, Samsung had risen to No. 2 on the list of the world’s biggest chipmakers, with Korean compatriot SK Hynix Inc. ranking seventh and only three Japanese names remaining among the top 10.For JSR, the turning point came in 2000. Koshiba, who was based in California at that time, recalls being dragged into an emergency meeting on a Sunday wearing a T-shirt and shorts. Word was a rival company was about to clinch an agreement with IBM for joint research on a next-generation photo-resist material. “Get it back,” he was told. Koshiba leaned on the network of American industry contacts he had spent a decade building, people who had known him through the worst of U.S.-Japanese trade tensions. Within a month, IBM signed with JSR.“Without that deal, we wouldn’t have gotten to No. 1,” Koshiba said.In lithography, the formula for shrinking transistors has only two levers: increase the light power or use a lens that lets more light through. Every time the chip process shifts to a higher-energy band of light, resist makers have to go back to the drawing board, opening up new opportunity. The research partnership with IBM ushered in the fourth such shift since integrated circuits replaced vacuum tubes in the 1970s, and JSR rode it all the way to the top.The company now commands about 40% of the market for the latest generation of resist used in mass production. It also supplies more than 30% of the photo-resist for 3D NAND, the most advanced flash memory chips, which are among the few product lines where Japan still competes with Korean rivals. In 2019, JSR is expected to generate about three times the revenue and five times the profit it did in the early ‘90s.What makes this business inaccessible to newcomers is the extreme degree of purity and quality demanded by customers. TOK says a single drop of coffee in two Olympic-sized swimming pools would be considered an unacceptable defect. JSR’s analogy is to a handful of tainted golf balls being enough to spoil a batch the size of the entire Japanese archipelago.In addition to being technically challenging, the markets these companies operate in are small and don’t promise fantastic growth. According to research firm Fuji Keizai Group, the industry’s sales rose just shy of 8% last year to $1.3 billion. Koshiba jokes that even the market for ramen noodles is bigger than that.“To recreate JSR, you basically need to spend as much as they did in the past 20 years on R&D and relationships, and also rebuild their reputation,” Macquarie’s Thong said. “These materials are used in such moderate quantities that to rebuild the whole infrastructure is probably not worth the investment.”And that’s the irony of the current situation. By stoking trade tensions, Japan may encourage its neighbor to subsidize competition to JSR and TOK that wouldn’t make sense under normal market conditions. It’s a matter of survival: Korean corporations now depend on Japan for over 90% of all the fluorinated polyimide and resists they need, and 44% of hydrogen fluoride requirements, Societe Generale estimates.Read more: Japan Grants South Korea Export License, Lessening Trade FearsFor the time being, JSR and TOK retain dominance over one prized material that keeps the consumer electronics industry ticking. According to South Korean Prime Minister Lee Nak-yon, Japan has approved exports of photo-resist for the next-generation of lithography currently under development by Samsung and Taiwan Semiconductor Manufacturing Co. But one of Japan’s last strongholds of tech industry domination may be under threat.“They have the engineers, and once national pride is involved they can possibly make it even if it loses money,” Koshiba said. “We don’t have an impregnable wall.”\--With assistance from Jason Clenfield.To contact the reporters on this story: Pavel Alpeyev in Tokyo at palpeyev@bloomberg.net;Yuki Furukawa in Tokyo at yfurukawa13@bloomberg.netTo contact the editors responsible for this story: Peter Elstrom at pelstrom@bloomberg.net, Vlad Savov, Edwin ChanFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Thomson Reuters StreetEvents

    Edited Transcript of 6502.T earnings conference call or presentation 7-Aug-19 6:30am GMT

    Q1 2020 Toshiba Corp Earnings Presentation

  • Reuters

    UPDATE 1-Toshiba Memory sees 'good chance' of M&A in push for data centre business

    Japan's Toshiba Memory said there was a "good chance" of acquisitions as it pushes to increase its share of the market for advanced storage products used in data centres. Toshiba Memory is the world's No.2 maker of NAND flash memory chips after Samsung Electronics, but ranks third after Intel in flash-based solid state drives typically used in data centres, according to researcher IHS. "One of the critical areas where we are focused on is the cloud service providers, data centre players," Toshiba Memory Chairman Stacy Smith told Reuters.

  • Toshiba Chip Business Changes Name Before Planned IPO
    Bloomberg

    Toshiba Chip Business Changes Name Before Planned IPO

    (Bloomberg) -- Toshiba Memory Corp., the world’s second-largest memory chipmaker that was spun out of its parent last year, is changing its name to Kioxia as it gears up for an initial public offering.By taking a new name, the semiconductor company is marking a clean break from its roots as a unit of Toshiba Corp., which retained a 40% stake after selling it to a group led by Bain Capital. Kioxia is an invented word that combines the Japanese word for memory — kioku — and axia, the Greek term for value. The new moniker takes effect Oct. 1 under the full name Kioxia Holdings Corp.“It’s really meant to denote a fresh start as an independent company,” said Stacy Smith, the former Intel Corp. chief financial officer who became chairman of Toshiba Memory last year. “We’re not running from our rich heritage.”Toshiba, a Japanese conglomerate founded in the 1800s, invented flash memory three decades ago. The chips are used to store data in iPhones and other smartphones, as well as gadgets such as USB drives and memory cards. Memory chips are also displacing hard drives in the data centers that power cloud-based computing services and internet businesses because of their speed and reliability. Toshiba had to sell the business to pay for losses at its bankrupt nuclear power unit.While Bain has made clear that it’s planning to hold an IPO for the business by mid-2021, local media have reported that it may file for a public sale as soon as this summer or September. The investor has hired banks including Nomura Holdings Inc. and Mitsubishi UFJ Financial Group Inc. to handle the IPO, people familiar with the matter have said. Smith declined to comment on the timing of the planned IPO.Separately, Smith said the company’s main factory, which was hit with a power outage on June 15, would return to full production capacity over the next several weeks. Equipment at the plant, in Yokkaichi, Japan, is already back online and is now being ramped up, he said. The disruption also impacted Western Digital Corp., its manufacturing partner at the plant.“The silver lining to that one was it happened in a time when supply was ahead of demand,” Smith said. “That’s helping us to minimize the impact on our customers.”Although Toshiba was the leader in NAND flash memory, it was outspent over the years by the likes of Samsung Electronics Co. The South Korean electronics conglomerate controlled 30% of the market at the end of 2018, followed by Toshiba with about 19%, according to researcher TrendForce Corp. The industry is now shifting to so-called 3-D NAND, which Toshiba believes gives it an edge against Samsung.Asked about recent trade tensions between Japan and South Korea, and the potential impact on memory prices, Smith said he didn’t see any impact that diverged from industry forecasts.Toshiba has been increasing investments at its Fab 6 chip facility in Yokkaichi, and also announced plans to build a new plant in the northern prefecture of Iwate that will begin mass production in 2020.\--With assistance from Yuki Furukawa.To contact the reporter on this story: Jason Clenfield in Tokyo at jclenfield@bloomberg.netTo contact the editors responsible for this story: Edwin Chan at echan273@bloomberg.net, Reed StevensonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters

    Power outage partially halts Toshiba Memory's chip plant

    Toshiba Memory Corp, the world's No. 2 producer of NAND flash memory chips, said on Friday production at its plant in central Japan has been partially suspended for nearly a week since a brief power outage last Saturday. A Toshiba Memory spokeswoman declined to comment when the plant would resume full operations and to what extent its production has been affected. Toshiba Memory, owned 40% by Toshiba Corp, is in the process of going public.

  • Reuters

    Total takes on Toshiba's U.S. LNG business after Chinese buyer pulls out

    PARIS/TOKYO, June 1 (Reuters) - Total will take over Toshiba's U.S. liquefied natural gas business and get $800 million cash from the Japanese group as part of the deal, the companies said on Saturday, weeks after attempts to sell it to a Chinese buyer fell through. Toshiba will also pay Total $815 million to take over all the contracts linked to the business, Total added. Toshiba was locked into a contract to pay a fixed processing fee for LNG over 20 years from Freeport LNG - regardless of whether it could later find buyers for the fuel at prevailing rates.

  • Reuters

    Total reaches deal to buy Toshiba's U.S. LNG business - source

    French energy group Total has reach a deal to buy Toshiba's U.S. liquified natural gas business, a source familiar with the matter said on Friday. The acquisition comes amid a drive by Total to expand ...

  • Reuters

    Toshiba Memory to borrow 900 bln yen from a group of banks

    Japan's flash memory maker Toshiba Memory Holdings Corp said on Friday it would borrow 900 billion yen from Sumitomo Mitsui Banking Corp, MUFG Bank Ltd and Mizuho Bank Ltd. The company's board has also ...

  • Reuters

    Deals of the day-Mergers and acquisitions

    ** Casino and gaming operator Rank Group Plc said that it was in advanced discussions over a possible all cash offer for smaller online peer Stride Gaming Plc. ** French energy group Total has reach a deal to buy Toshiba's U.S. liquified natural gas business, a source familiar with the matter said. ** Private equity firm TPG is looking to acquire senior living communities operator Capital Senior Living Corp, Bloomberg reported, citing people with knowledge of the matter.

  • Thomson Reuters StreetEvents

    Edited Transcript of 6502.T earnings conference call or presentation 13-May-19 4:30am GMT

    Full Year 2019 Toshiba Corp Earnings Presentation

  • Reuters

    Factbox: Global tech companies shun Huawei after U.S. ban

    The United States has effectively banned its companies from doing business with Huawei, exacerbating an ongoing Sino-U.S. trade war. Huawei is allowed to buy U.S. goods until Aug. 19 to maintain existing telecoms networks and provide software updates to its smartphones. - ALPHABET INC: Google on May 19 suspended the transfer of hardware, software and technical services to Huawei, except what it has made publicly available via open source licensing.

  • Reuters

    Japan banks drive LBO boom

    International lenders are finding little joy in Japanese leveraged buyouts even as global private equity firms ramp up debt-funded acquisitions in the world's third-biggest economy. Japanese LBO loans are running at a decade high, with more than US$10bn of deals closed already this year. KKR-owned Japanese auto parts maker Calsonic Kansei Corp raised over ¥1trn (US$9bn) in Asia's largest LBO loan in April with DBS Bank the only non-Japanese lender to join in senior syndication, even though the deal was denominated partially in euros and offered to international banks.