Toshiba Corp

Toshiba Group on Thursday said it will invest 10 billion Japanese yen (over Rs 500 crore) to increase the capacity of producing power transmission and distribution equipment in India. Toshiba Transmission & Distribution Systems (India) Pvt Ltd (TTDI) will increase its capacity of manufacturing power transformers and distribution transformers by about 1.5 times compared to FY2023, over a three-year period from FY2024 to FY2026, it stated. Toshiba Group has positioned power T&D as a focus business and will invest about JPY 10 billion (over Rs 500 crore) in TTDI to expand its capacity. Hiroshi Furuta, Chairperson and Managing Director, TTDI, said in the statement, "Furthering our commitment to make-in-India and export-from-India, the new investment will improve operational efficiency, increase speed-to-market, and support in expanding our business in India and overseas." With this investment, TTDI will increase its assembly and test line capacity for distribution transformers ...

The Tokyo-based company's board approved on Thursday a bid of about 2 trillion yen ($15.3 billion) from a group led by domestic private equity firm Japan Industrial Partners Inc.

The Japanese bidding consortium also wants to avoid triggering Chinese antitrust scrutiny by bringing in foreign investors

TDSG's facility - the first in the country to make batteries with cell-level localisation - has an aggressive export target for the next three years

Troubled Japanese technology giant Toshiba announced some additions to its proposed leadership on Thursday, ahead of a shareholders' meeting next month. Toshiba Corp. said it seeks to add on the board outside directors, such as Nabeel Bhanji, an executive at Elliott Opportunity II Corp., which handles acquisitions and investments, and Eijiro Imai, a former managing director at Farallon Capital Management, a US investment firm. Also proposed for the board is Akihiro Watanabe, an executive at Houlihan Lockey, a US investment bank. Tokyo-based Toshiba has been trying to win over shareholders to a restructuring plan. Earlier this year, it tapped Taro Shimada, an executive officer and corporate senior vice president, to replace Satoshi Tsunakawa as chief executive. Shimada was an executive at Siemens, both in Japan and the US, before joining Toshiba in 2018, working in its digital operations. In February, Toshiba proposed splitting into two companies, one focused on infrastructure and

Toshiba shareholders voted against its plan to spin off the devices unit, but a separate motion backed by activist shareholders that called for the conglomerate to solicit buyout offers also failed

Toshiba shareholders voted down competing proposals - one presented by management and the other backed by activist shareholders, leaving the future direction of the embattled conglomerate uncertain

Activist investor Effissimo Capital Management, which holds a roughly 10 per cent in Toshiba, also spoke out against the plan on Thursday

The final vote to determine whether to break up Toshiba won't happen until next year but the meeting will be an important gauge of shareholder support for the board's restructuring plan

Toshiba Chairman Satoshi Tsunakawa will become chief executive, the company said in a statement.

Shares in Japan's Toshiba Corp surged on Wednesday, propelled higher by reports of more plans of bids for the conglomerate and expectations that its embattled chief executive would soon resign

CalPERS and Norges Bank Investment Management (NBIM) voted in favour of a proposal by a top Toshiba Corp shareholder for an independent probe into the Japanese conglomerate

Operating profit for the second quarter ended September came to 15.75 billion yen ($149.84 million), down from 44.23 billion yen in the same period a year prior

In a new twist, Yoshiaki Murakami, Japan's best-known activist investor, announced a tender offer for Toshiba Machine late on Friday

The unit cannot be sold without its consent, demanding exclusive negotiating rights: Toshiba