TOKYO, August 15, 2017 /PRNewswire/ --
Toshiba have been put in the spot light after much controversy
as the company narrowly avoided delisting from the Tokyo Stock
Exchange (TYO) for delaying its financial results noted Leiko Tokyo
Securities.
With the company's financial future still uncertain and a lack
of capital at hand, the company has not advanced in talks with the
sale of its 'chips unit business' for the financial resources it so
desperately needs to stay afloat.
Leiko Tokyo Securities reported to its clients that the 140 year
old company is treading on thin ice in regards to coming closer to
a delisting. The Tokyo Stock Exchange triggers a company to drop of
its exchange once a company has recorded a negative net worth and
its liabilities over grow its assets for more than two years in a
row.
Toshiba have been battling to win approval over its shareholders
as it lost trust over the last few years. Having inflated its
profits within the last few years and a dispute between PwC that
highlighted that some of its losses that were booked in the
business year of 2017 should have been recorded in its previous
year, Toshiba disagreed.
"Toshiba's long-term prospectives are fading, the company needs
to find an injection of capital to sustain the heavy losses," said
Koyasu Oda who heads up the research depatment at Leiko Tokyo
Securities.
Its flash memory department recorded significant growth
accounting for over 90% of its sales at 96
billion yen compared to the previous year at only
16 billion yen, showing the big
leap.
With Toshiba looking to sell its semiconductor division, many
companies have been mentioned yet nothing has come off it.
About Leiko Tokyo Securities (LTS)
Founded in 2007, Leiko Tokyo Securities is a leading wealth
management firm based in Tokyo,
Japan.
Today Leiko Tokyo Securities manage over 12.4 billion in assets
under management.
Contact Leiko Tokyo Securities (LTS)
W: https://www.ltsmanagement.com | E: info@ltsmanagement.com |
T: +81-(0)-345776391 | A: 27th Floor, Nihonbashi Mitsui Tower, 2
Chome-1-1 Nihonbashimuromachi, Chuo, Tokyo 103-0022, Japan.
Media Relations
For all media equiries please contact Togoshi Yutaka,
togoshi.yutaka@ltsmanagement.com