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

TOSHIBA CORP (6502)
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Toshiba : Western Digital effectively agree to settle chip unit dispute

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12/11/2017 | 03:03pm CET

Toshiba Corp. and its joint venture partner Western Digital Corp. have effectively agreed to settle a dispute over the sale of the Japanese company's chip business, ending a long legal battle, sources with knowledge of the matter said Monday.

Western Digital will drop its legal action aimed at blocking the sale of Toshiba Memory Corp., a decision that removes a major concern for the Japanese conglomerate to complete the deal as part of its restructuring plans.

The companies are working out the final details of the agreement and will announce a deal as early as Tuesday, the sources said.

The U.S. hard disk drive maker had claimed that selling Toshiba Memory to a third party without its consent would breach their contract.

The cash-strapped Japanese company is seeking to raise cash through the sale of the chip unit to eliminate a negative net worth by the time its business year ends in March and avoid having its shares delisted from the Tokyo Stock Exchange.

As the legal action could have delayed the sale, Toshiba had to look to another fund-raising measure. The company last week raised 600 billion yen ($5.3 billion) through a third-party allocation of new shares with 60 overseas investment funds.

In September, Toshiba decided to sell Toshiba Memory shares to a Japan-U.S.-South Korean group led by U.S. fund Bain Capital. The consortium includes the state-backed Innovation Network Corp. of Japan and Development Bank of Japan, and South Korean chipmaker SK Hynix Inc.

==Kyodo

© Kyodo News International, Inc., source Newswire

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Financials ( JPY)
Sales 2018 5 022 B
EBIT 2018 -
Net income 2018 1 060 B
Debt 2018 181 B
Yield 2018 0,14%
P/E ratio 2018 1,56
P/E ratio 2019 10,41
EV / Sales 2018 0,43x
EV / Sales 2019 0,45x
Capitalization 1 963 B
Chart TOSHIBA CORP
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Toshiba Corp Technical Analysis Chart | 6502 | JP3592200004 | 4-Traders
Technical analysis trends TOSHIBA CORP
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 357  JPY
Spread / Average Target 19%
EPS Revisions
Managers
NameTitle
Satoshi Tsunakawa Executive President, CEO & Director
Naoto Nishida Senior Managing Executive Officer
Yasuo Naruke Director & Representative Senior Executive VP
Kouichi Ikeda Independent Outside Director
Ryoji Sato Independent Director
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