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4-Traders Homepage  >  Equities  >  Tokyo  >  Toshiba Corp    6502   JP3592200004

TOSHIBA CORP (6502)
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Japan government investors tell Toshiba of plan to join chip unit bidding: sources

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05/19/2017 | 11:53am CEST

TOKYO (Reuters) - Two Japanese government-backed investors have formally informed Toshiba Corp of their intention to take part in bids for its prized flash memory chip business, sources familiar with the matter said.

State-backed fund Innovation Network Corp of Japan (INCJ) and the Development Bank of Japan (DBJ) told the conglomerate of their intention on Friday, said the sources, who declined to be identified because the talks were private.

It was not clear whether INCJ and DBJ were working together or if they would be teaming up with other suitors.

INCJ declined to comment. A representative for DBJ was not immediately available to comment.

The Japanese TVs-to-nuclear conglomerate plans to close a second round of bidding for the world's second-largest NAND chip manufacturer on Friday.

Crisis-wracked Toshiba, which is depending on the sale to cover a $9 billion hole in its accounts due to problems at now bankrupt unit Westinghouse, is also open to entertaining new bids after the second round closes, a person with knowledge of the matter has said.

(Reporting by Taro Fuse; Writing by Makiko Yamazaki; Editing by Edwina Gibbs)

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Financials ( JPY)
Sales 2018 4 226 B
EBIT 2018 500 000 B
Net income 2018 651 B
Debt 2018 294 B
Yield 2018 -
P/E ratio 2018 3,74
P/E ratio 2019 1,50
EV / Sales 2018 0,51x
EV / Sales 2019 0,31x
Capitalization 1 858 B
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Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 386  JPY
Spread / Average Target 36%
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Managers
NameTitle
Nobuaki Kurumatani Chairman & Chief Executive Officer
Satoshi Tsunakawa President, Chief Operating Officer & Director
Naoto Nishida Senior Managing Executive Officer
Yasuo Naruke Director & Representative Senior Executive VP
Kouichi Ikeda Independent Outside Director
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