Jul 4, 2015

Toshiba's inflated profits likely to top ¥100 billion

Toshiba Corp.’s inflated group operating profits for the five years to March 2014 are expected to top ¥100 billion, sources said Saturday. This is roughly double the ¥54.8 billion amount by which Toshiba earlier said it had overinflated profits over the same period. The ...

Sony shares nosedive as investors question fundraising drive

Jul 1, 2015

Sony shares nosedive as investors question fundraising drive

Sony Corp.’s plan for its first share sale in 26 years is straining investors’ faith in Chief Executive Officer Kazuo Hirai’s ability to deliver on growth promises. The company plans to raise about ¥440 billion ($3.6 billion) by selling common stock and convertible bonds ...

Jun 30, 2015

Sharp in 'selective default,' S&P says

Troubled electronics maker Sharp is in “selective default,” ratings agency S&P said, the latest blow to the one-time giant as it struggles to repair a tattered balance sheet. The move comes after Sharp announced that it was issuing preferred securities to its main lenders, ...

Handwriting isn't on the wall for fax machines

Jun 30, 2015

Handwriting isn't on the wall for fax machines

It may have slipped from its golden age into its golden years, but two decades into the Internet era the fax machine is still, perhaps surprisingly, holding its place in many offices. While it has been reduced to a small player in the rapidly ...

Jun 23, 2015

Sharp CEO faces calls for resignation as shareholder anger mounts

Sharp Corp. Chief Executive Officer Kozo Takahashi was approved by shareholders on Tuesday after facing calls for his resignation at the struggling Japanese television and display maker’s annual meeting. “Letting the president stay is unacceptable,” one elderly stock-owner said at the meeting in Osaka, ...

Jun 13, 2015

Toshiba accounting scandal snowballs to 24 cases, ¥54.8 billion

Toshiba Corp. has discovered 15 new cases of inappropriate accounting and estimates that the electronics group will have to revise past operating profits by ¥3.6 billion. The latest findings from Toshiba’s internal investigation have brought the number of accounting irregularities to 24 and the ...

Jun 1, 2015

Sharp paid board members more last year despite huge losses

Despite incurring huge losses in its slumping liquid-crystal display and solar panel businesses, struggling electronics firm Sharp Corp. paid its board members more last fiscal year than the previous year, a document showed Monday. Sharp doled out a total of ¥313 million ($2.5 million) ...

May 27, 2015

Toshiba execs to have salaries cut by up to 50%

All 41 executive officers of Toshiba Corp. will have their salaries cut by up to 50 percent as the company takes responsibility for accounting irregularities, sources close to the matter said Wednesday. The pay cuts, which range between 10 percent and 50 percent, will ...

Giants Sharp, Toshiba face dire prospects

| May 25, 2015

Giants Sharp, Toshiba face dire prospects

by Tomoyuki Tachikawa

Several electronics makers have regained profitability largely thanks to restructuring measures and the weakening of the yen, but Sharp Corp. and Toshiba Corp. are unlikely to catch up with their domestic rivals soon. Struggling Sharp’s latest rehabilitation plan got a cold reception from the ...