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    6502   JP3592200004

TOSHIBA CORPORATION

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Toshiba : strategic review committee to make recommendations soon

07/30/2021 | 08:47am EDT
FILE PHOTO: The logo of Toshiba Corp. is seen at the company's facility in Kawasaki

TOKYO (Reuters) - Toshiba Corp's board said on Friday its strategic review committee would identify core and non-core businesses and soon make recommendations to the board on the strategy of the scandal-hit Japanese conglomerate.

The statement by the Toshiba board updates a pledge it made in late June that the newly formed strategic review committee would undertake a full review of current assets and also engage with potential strategic and financial investors.

The company has been in deeper turmoil since shareholders last month ousted the chairman of the board https://www.reuters.com/business/pivotal-toshiba-shareholder-vote-future-board-chairman-begins-2021-06-25 in a powerful rebuke to the company, which was found to have colluded with the Japanese government to put pressure on foreign investors.

The initial focus of the strategic review committee has been on a full review of Toshiba's businesses, which, when complete, "will facilitate the identification of core and non-core businesses," the statement said.

The group is large and complex, with many lines of business and subsidiaries, operating in many jurisdictions and subject to numerous regulatory considerations, it noted.

But "it is hoped that, in conjunction with the management team, the strategic review committee will soon be able to make recommendations to the board on Toshiba's strategy," the statement said, without giving any time frame.

(Reporting by Makiko Yamazaki; editing by Jason Neely and Steve Orlofsky)

By Makiko Yamazaki


ę Reuters 2021
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Analyst Recommendations on TOSHIBA CORPORATION
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Financials
Sales 2022 3 296 B 29 708 M 29 708 M
Net income 2022 142 B 1 284 M 1 284 M
Net Debt 2022 179 B 1 618 M 1 618 M
P/E ratio 2022 14,8x
Yield 2022 3,86%
Capitalization 2 103 B 19 000 M 18 961 M
EV / Sales 2022 0,69x
EV / Sales 2023 0,69x
Nbr of Employees 117 300
Free-Float 93,4%
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Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 4 910,00 JPY
Average target price 4 945,50 JPY
Spread / Average Target 0,72%
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Managers and Directors
Satoshi Tsunakawa Chairman, Executive President & CEO
Masayoshi Hirata CFO, Head-Accounting & Finance Management
Keiichi Yumita Head-Information Systems
Yutaka Sata Vice President-Research & Development
Hideaki Ito Head-Technology Planning, R&D Center
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