The Business Times
SUBSCRIBERS

Toshiba to use crisis for profit-building overhaul

Changes may include selling money-losing PC and appliance arms

Published Fri, Dec 18, 2015 · 09:50 PM

Tokyo

THE biggest crisis in Toshiba Corp's 140-year history gives president Masashi Muromachi an opportunity to push through painful reforms from layoffs to business closures, accelerating the industrial conglomerate's move away from consumer electronics.

Revelations that management was complicit in padding profits for almost seven years have cost the Japanese household brand 40 per cent of its value and resulted in a record fine. Mr Muromachi now plans far-reaching changes that may encompass selling the personal computer (PC) and appliance businesses - money-losing divisions the company long refused to abandon.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Consumer & Healthcare

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here