|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||15.94 - 16.03|
|52 Week Range||12.90 - 17.45|
|Beta (3Y Monthly)||0.75|
|PE Ratio (TTM)||1.10|
|Forward Dividend & Yield||0.18 (1.11%)|
|1y Target Est||N/A|
Moody's Japan K.K. says that Toshiba Corporation's (B1 negative) buyout of three of its listed subsidiaries does not affect Toshiba's B1 corporate family and senior unsecured ratings and its negative outlook. Moody's statement follows Toshiba's announcement last week that it will take private three partially-owned subsidiaries through a tender offer for about JPY200 billion in cash.
Toshiba Corp on Wednesday reported its highest quarterly profit in two years and said it will buy out three of its listed subsidiaries as the industrial conglomerate moves on from accounting scandals and a management crisis. Toshiba's energy and infrastructure divisions drove the profit increase, as the company cut costs and reined in low-margin projects. "We've changed everything, from marketing, procurement to the ways we take orders and produce products," Toshiba CEO Nobuaki Kurumatani told Reuters.
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.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Toshiba Corporation and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
Moody's Japan K.K. has affirmed Toshiba Corporation's B1 corporate family and senior unsecured ratings, as well as its Not Prime commercial paper rating. "The change in outlook to negative reflects Toshiba's dwindling cash balance due to unexpected cash outlays, as well as increasing uncertainty over its ability to turn around its profit," says Masako Kuwahara, a Moody's Vice President and Senior Analyst. Moody's forecasts that Toshiba has sufficient cash to cover the negative free cash flow and planned share buybacks at least over the next 12 months, but after that, it would need external funding to supplement its depleting cash balance.
Moody's Investors Service has affirmed the Aa3 rating on Douglas County Public Utility District 1, WA's (Douglas PUD) revenue bonds and stable outlook. Douglas PUD's Aa3 rating affirmation is supported by its highly competitive hydro generation, expectations for robust debt service coverage ratios owing to lower annual debt service, and strong liquidity.
Moody's Investors Service says that ENN Ecological Holdings Co., Ltd's termination of its acquisition of Toshiba Corporation's (B1 stable) LNG business will reduce business risks, a credit positive, but has no immediate impact on its Ba2 corporate family rating. On 18 April, ENN Ecological announced that it had received a notice from Toshiba America, Inc. and Toshiba Energy Systems & Solutions Corporation -- subsidiaries of Toshiba Corporation -- to terminate the agreement to acquire Toshiba's LNG business.
General Electric's (GE) advanced HA gas turbine technology will make HEPCO's power plant more efficient in producing electricity in Hokkaido island.
YOKOHAMA, Japan (AP) — Toshiba Corp. unveiled a remote-controlled robot with tongs on Monday that it hopes will be able to probe the inside of one of the three damaged reactors at Japan's tsunami-hit Fukushima nuclear plant and grip chunks of highly radioactive melted fuel.
Moody's Investors Service has assigned a first-time Ba2 corporate family rating (CFR) to ENN Ecological Holdings Co., Ltd. "ENN Ecological's Ba2 CFR reflects the favorable industry trends for its methanol production and clean energy related businesses, its long track record, and its diversified business portfolio," says Chenyi Lu, a Moody's Vice President and Senior Credit Officer. ENN Ecological benefits from favorable industry trends given its focus on expanding its methanol production and clean energy related businesses, namely energy construction and liquefied natural gas (LNG) production.