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Toshiba Corporation (TOSYY)

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15.83+0.73 (+4.82%)
At close: 3:56PM EDT
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Neutralpattern detected
Previous Close15.10
Open15.70
Bid0.00 x 0
Ask0.00 x 0
Day's Range15.70 - 15.85
52 Week Range9.06 - 18.11
Volume4,469
Avg. Volume7,795
Market Cap14.485B
Beta (5Y Monthly)1.07
PE Ratio (TTM)1.09
EPS (TTM)14.53
Earnings DateN/A
Forward Dividend & Yield0.09 (0.60%)
Ex-Dividend DateMar 27, 2020
1y Target EstN/A
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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  • Toshiba Repels Activist Challenge With Sweep of Board Vote
    Bloomberg

    Toshiba Repels Activist Challenge With Sweep of Board Vote

    (Bloomberg) -- Toshiba Corp. won a clean sweep for its slate of board nominees, turning back a challenge from activist investors who sought more influence after years of accounting scandals and business missteps.The Tokyo-based company said that its 12 proposed directors were all elected at a shareholders meeting. Activist Effissimo Capital Management Pte, the company’s largest shareholder, had sought to have its co-founder, Yoichiro Imai, take a seat on the conglomerate’s board. Toshiba’s shares slid as much as 2% in Tokyo trading after the vote.Toshiba, once renowned for its technological innovation, has stumbled badly in recent years. It paid a record fine in an accounting scandal and then lost billions on a bungled foray into nuclear power. To help cover the losses, Toshiba sold its medical unit to Canon Inc., its home appliance business to China’s Midea Group Co. and a chunk of its crown-jewel memory chip business to a group led by Bain Capital.Effissimo and other activist investors have clashed with the company, seeking improved governance and management changes. The Singapore firm, the first investor with an activist history to target Toshiba, disclosed a stake in 2017 and was later joined by other activists. On Friday, the firm said it remained open to “constructive engagement” with Toshiba management.“There were many individuals that have shared our concerns and agreed that the further growth in Toshiba and enhancement to its corporate value could not be achieved absent a fundamental improvement in its compliance and corporate governance,” it said in a statement.Effissimo this week reduced its stake to 9.91% from about 15.4% to remove concerns that its status as an overseas investor would impede Toshiba’s independence. It also wanted to ensure Imai’s status as an independent director if he had been elected to the board.“This stems from our belief that there are internal control-related problems at Toshiba,” Effissimo said in a separate statement at the time.(Updates with shares and Effissimo’s statement from the second paragraph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Toshiba says shareholders reject activists-backed board nominees in vote
    Reuters

    Toshiba says shareholders reject activists-backed board nominees in vote

    Toshiba Corp <6502.T> shareholders voted down board director nominees backed by two activist funds, the Japanese company said, winning a closely contested proxy fight with two of its major investors. Effissimo Capital Management, the top shareholder, called for Toshiba to elect an Effissimo co-founder and two others as outside directors, while the 3D Opportunity Master Fund sought the election of two candidates it is nominating. Toshiba, which opposed the proposals for additional directors, didn't disclose the proportions of the votes.

  • SoftBank Approached Apple to Gauge Interest in Chip Designer Arm
    Bloomberg

    SoftBank Approached Apple to Gauge Interest in Chip Designer Arm

    (Bloomberg) -- SoftBank Group Corp. approached Apple Inc. recently to gauge the iPhone maker’s interest in bidding for chip design firm Arm Ltd., according to people familiar with the discussions.The two firms had preliminary discussions, but Apple isn’t planning to pursue a bid. Arm’s licensing operation would fit poorly with Apple’s hardware focused business model. There may also be regulatory concerns about Apple owning a key licensee that supplies so many rivals. Representatives from SoftBank and Apple declined to comment.It’s rare for Apple to make big acquisitions. SoftBank acquired Arm in 2016 for $32 billion. That’s more than 10 times larger than Apple’s biggest acquisition to date, its $3 billion deal for Beats Electronics LLC in 2014.Still, the Cupertino, California-based technology giant has a vested interest in the fate of Arm. The chip designer’s technology is an important part of the more than 2 billion custom processors that Apple has shipped in iPhones and other devices over the past decade. Mac computers will start relying on the technology later this year.Read more: SoftBank’s Arm Ltd. Attracts Nvidia InterestApple rivals, including Samsung Electronics Co., Google, Amazon.com Inc. and Microsoft Corp., also use Arm-based processors in many of their devices. If one of these companies ended up owning Arm, that would make it more difficult for rivals to access the latest chip technologies.Apple has been involved in similar situations with other partners in the past. When Toshiba Corp. was selling its flash memory business in 2017, Apple invested as part of a consortium. The U.S. company played a central role in resolving the auction because flash memory chips are used in every iPhone and iPad for storing data. The deal helped keep this corner of the chip market competitive and improved Apple’s negotiating position.Read more: Toshiba Inks $18 Billion Deal to Sell Chip Arm to BainFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.