Sony Digital Rapids Pixel Power calrec Sony

Notice regarding Financing Transaction

19/11/2017

TOKYO - Toshiba Corporation (TOKYO:6502) (Toshiba), as approved at its Board of Directors today, has decided to proceed with a financing transaction (the Financing) expected to close on December 5, 2017.

The proceeds from the Financing will be used to offer to make full payment of parent company guarantee related to nuclear power construction project of Westinghouse Electric Company LLC (Westinghouse). By obtaining funds necessary to offer to make early payment of the parent company guarantee and settling the obligations to creditors, Toshiba can obtain the right against Westinghouse to demand reimbursement of the amount paid by Toshiba. Toshiba intends to sell its claims, including reimbursement, against Westinghouse and interests held by it related to Westinghouse to a third party. If such sale is successfully made, Toshiba is expected to be able to significantly reduce its internal resources it had to allocate to the rehabilitation proceedings of Westinghouse and focus its internal resources on its new businesses after the sale of the Memory Business.

In addition to the above, Toshiba is expected to be able to avoid currency fluctuation risk related to the maximum amount of the parent company guarantee specified in US dollar by making full payment of the parent company guarantee.

Further, if the sale of the claims, including reimbursement, against Westinghouse and interests related to Westinghouse is completed by the end of March 2018, Toshiba is expected to be able to reduce the tax impact recorded as a result of the value of the memory business having been determined, and at least approximately JPY 240 billion will contribute to further enhancing Toshiba's capital base.

If the Financing successfully completes and the claims against Westinghouse and interests related to Westinghouse are sold, it is expected that JPY 750 billion of negative consolidated balance sheet (i.e., liabilities in excess of assets) will be remedied as of the end of March 31, 2018 and thereby Toshiba's pressing challenge will be resolved. After the closing of the transfer of the Memory Business, Toshiba will consider appropriate measures to return to shareholders while considering Toshiba group's financial situation, business risks and other factors.

The Financing, full payment of the parent company guarantee, and the sale of the claims against Westinghouse and the interests related to Westinghouse will contribute to improve and strengthen Toshiba's financial situation and enhance its cash balance. The detail of the impact on Toshiba's financial results is under review.

The successful completion of the Financing will remedy a negative consolidated balance sheet and enable Toshiba to avoid the delisting of its shares, both of which have been pressing challenges of Toshiba. Subsequently, Toshiba group, as the new Toshiba, will focus on four business domains, Social Infrastructure as a core, along with Energy, Electronic Devices and Digital Solutions. Toshiba will pursue to strengthen its revenue base and achieve stable growth in each business domain and to recover its diminished financial base.

In connection with the Financing, no securities will be or have been registered under the United States Securities Act of 1933, as amended, and may be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration, or qualification under the securities laws of any such jurisdiction. This announcement contains forward-looking statements concerning future plans, strategies and the performance of Toshiba Group. These forward-looking statements are not historical facts, rather they are based on management's assumptions and beliefs in light of the economic, financial and other data currently available. Since Toshiba Group promotes business in various market environments in many countries and regions, its activities are subject to a number of risks and uncertainties that, without limitation, relate to economic conditions, worldwide mega-competition in the electronics business, customer demand, foreign currency exchange rates, tax rules, regulations and other factors. Toshiba therefore wishes to caution readers that actual results might differ materially from our expectations
LINK: http://www.toshiba.co.jp/about/press/2017_11/pr1902.htm...
See more stories from toshiba

Asia, Australia & Oceanic Stories

18/01/2018

JIM RYAN NAMED NEW DEPUTY PRESIDENT OF SONY INTERACTIVE ENTERTAINMENT

SAN MATEO, Calif., January 16, 2018 - Sony Interactive Entertainment (SIE) today announced that Jim Ryan, Head of Global Sales and Marketing of SIE and Presiden...

18/01/2018

SBS News available with Amazon Alexa

SBS News available with Amazon Alexa 18 January 2018 Media Release SBS is making it even easier for Australians to stay up to date with the latest local and...

18/01/2018

NITV presents its first ever live action series, Grace Beside Me, jam-packed with adventures and spirit encounters

NITV presents its first ever live action series, Grace Beside Me, jam-packed wit...

17/01/2018

Raaga Book Donation Drive

Raaga Book Donation Drive Date Released:16 Jan 2018 Share Tweet 8 ...

17/01/2018

The next BIG thing from Director Chiu!

The next BIG thing from Director Chiu! Date Released:16 Jan 2018 Share Tweet Directed by Chiu Keng Guan, Think Big Big is set to release on 15 February ...

17/01/2018

Go Karts set to rev up WA's South West

17 01 2018 - Media release Go Karts set to rev up WA's South West Go Karts director Owen Trevor / Supplied by See Pictures Screenwest and Screen Australi...

17/01/2018

Animated family feature 100% Wolf receives production funding

17 01 2018 - Media release Animated family feature 100% Wolf receives production funding 100% Wolf / Photo credit Flying Bark Productions Pty Ltd Screen Aust...

16/01/2018

Screen Australia invests $3.5 million across 12 documentaries

16 01 2018 - Media release Screen Australia invests $3.5 million across 12 documentaries Working Class Boy / photo credit Andrew Farrell Screen Australia tod...

13/01/2018

ERA Digital Muzik Awards Kini Kembali! Saksikan #ERADMA2017 ...

ERA Digital Muzik Awards Kini Kembali! Saksikan #ERADMA2017 Secara Langsung Melalui Facebook ERA pada 25 Januari 2018 (Khamis), Jam 9 Malam! Date Released:1...

12/01/2018

Stream TV any time with Foxtel Now on PlayStation 4

FOXTELS STREAMING SERVICE, Foxtel Now is available on PlayStation 4. Gaming console owners can download the new Foxtel Now app from PlayStation Store to their...

12/01/2018

Techtel pioneers Australian legislative VOD market

Sydney, Australia - Techtel was recently selected by an Australian state government (end user details withheld) to build the country's first digital, file-b...

12/01/2018

MobiCom received the Grand Prix at the "Entrepreneur Awards" in 2017

KDDI CORPORATION December 27,2017 MobiCom Corporation LLC, a consolidated subsidiary of KDDI (Headquarters: Ulaanbaatar, Mongolia; Chairman and CEO: Tatsuya H...

10/01/2018

IBC 2017 Preview

Venera Technologies IBC 2017 Preview At IBC 2017, Venera Technologies will showcase latest additions to its suite of file based QC solutions at Hall 7, Booth#...

10/01/2018

NAB 2017 Preview

Venera Technologies NAB 2017 Exhibitor Preview Venera Technologies will showcase its brand new Native Cloud QC system, Quasar, and major enhancements to its P...

10/01/2018

Pulsar/Netflix Photon integration

Venera integrates Netflix Photon Analyzer with its Pulsar file-based Automated QC system The integration will help Netflix content providers to verify their I...

10/01/2018

WWE and Astro extend long-standing partnership in Malaysia

WWE and Astro extend long-standing partnership in Malaysia Date Released:10 Jan 2018 Share Tweet WWE (NYSE: WWE) and Astro Malaysia Holdings Berhad (Ast...

10/01/2018

SPA & MEAA ANNOUNCE INDUSTRY CONSULTATION ON SAFER WORKPLACES

SPA and MEAA announce the release of a draft policies relating to workplace bullying, investigations and discrimination and harassment. Over the past few mont...

08/01/2018

Astro Ponggu Tamil 2018

Astro Ponggu Tamil 2018 Date Released:08 Jan 2018 Share Tweet 15- ' ...

05/01/2018

KDDI Invests in Next-Generation Space Company "ispace" to Pursue the Commercialization of Lunar Resource Development

KDDI CORPORATION December 13,2017 KDDI CORPORATION (Headquarters: Chiyoda, Tok...

04/01/2018

Statement from SBS on the passing of Helen Kellie

Statement from SBS on the passing of Helen Kellie Thursday, 4 January 2018 Statement from SBS Managing Director Michael Ebeid on the passing of Helen Kellie ...

02/01/2018

Astro Radio refreshes 11 brands to deliver better value to fans

Astro Radio refreshes 11 brands to deliver better value to fans Date Released:02 Jan 2018 Share Tweet Radio today is interactive and social; it has trans...

21/12/2017

ABS Board Appoints Jim Simpson as the new Chief Executive Officer

Washington, DC, 21st December 2017, ABS announced the new appointment of Jim Simpson as Chief Executive Officer (CEO). Jim, reporting to the Board of Director...

21/12/2017

MEDIA RELEASE: SPA & MEAA ANNOUNCE INDUSTRY CONSULTATION ON SAFER WORKPLACES

SPA and MEAA announce the release of a draft policies relating to workplace bullying, investigations and discrimination and harassment. Over the past few mont...

20/12/2017

MPT forms strategic partnership with Myanmar National League in football

MPT aims to contribute to promote football in Myanmar and support player development KDDI CORPORATION December 12,2017 KDDI is currently collaborating ...

16/12/2017

Diari Hamil Jihan Muse di Ruang Digital dan Kaca Televisyen

Diari Hamil Jihan Muse di Ruang Digital dan Kaca Televisyen Date Released:12 Dec 2017 Share Tweet Hi Mommy Jihan!' merupakan sebuah blog video (vlog...

16/12/2017

Astro and Huomao launch Tamago, live streaming platform

Astro and Huomao launch Tamago, live streaming platform Date Released:15 Dec 2017 Share Tweet For fans to connect and engage with like-minded communities...

14/12/2017

Screen Australia Supports SPA Members in Funding Streams

Screen Producers Australia commends all the recipients of Screen Australia's Enterprise Ideas and People funding pool for 2018. The Enterprise Program whic...

14/12/2017

State of Alarm recipients announced

14 12 2017 - Media release State of Alarm recipients announced State of Alarm recipients with guest speaker Karrina Nolan Screen Australia's Indigenous D...

14/12/2017

Create NSW, ABC Arts and Screen Australia announce Double Happiness

14 12 2017 - Media release Create NSW, ABC Arts and Screen Australia announce Double Happiness Double Happiness / Photo credit Olivia Martin-McGuire Create N...

14/12/2017

Development funding announced for 17 screen projects and four industry placements

14 12 2017 - Media release Development funding announced for 17 screen projects ...

13/12/2017

Fresh Blood: Four teams advance to pilot stage

13 12 2017 - Media release Fresh Blood: Four teams advance to pilot stage Fresh Blood projects: (top L-R) Be Your Own Boss, Koala Man, (bottom L-R) The Angus ...

13/12/2017

Over $2.9 million in Enterprise funding allocated

13 12 2017 - Media release Over $2.9 million in Enterprise funding allocated Bruna Papandrea and Jodi Matterson from Made Up Stories From 122 applications, S...

13/12/2017

Toshiba and Western Digital Reach Global Settlement and Agree to Strengthen Flash Memory Collaboration

Toshiba Corporation Toshiba Memory Corporation Western Digital Corporation TO...

13/12/2017

Slow TV comes to SBS with The Ghan: Australia's Greatest Train Journey

Slow TV comes to SBS with The Ghan: Australia's Greatest Train Journey Tuesday 12 December, 2017 Media Release Slow TV comes to SBS with The Ghan: Austr...

12/12/2017

Five online creative teams Skip Ahead with Google and Screen Australia

12 12 2017 - Media release Five online creative teams Skip Ahead with Google and Screen Australia Skip Ahead recipients: (top L-R) Skit Box, Timtimfed, (bott...

12/12/2017

Report on the Inquiry into the Australian Film & TV Industry

Today, our CEO, Matthew Deaner, welcomed the House Standing Committee on Communications and the Arts Report on the inquiry into the Australian film and televisi...

11/12/2017

SBS Welcomes New Community Advisory Committee

SBS Welcomes New Community Advisory Committee Media Release SBS welcomed ten newly-appointed members to the Community Advisory Committee in September represen...

11/12/2017

SBS wins two awards at 2017 Australian Multicultural Marketing Awards

SBS wins two awards at 2017 Australian Multicultural Marketing Awards Media Release SBS won two awards at the Australian Multicultural Marketing Awards, recei...

11/12/2017

SBS continues partnership with Youth Frontiers

SBS continues partnership with Youth Frontiers Media Release The Hon. Ray Williams - MP, Rebecca Pugh- Newcastle High School, Jan Fran- SBS The Feed presente...

11/12/2017

Janice Petersen hosts second Advancing Community Cohesion Conference Dinner

Janice Petersen hosts second Advancing Community Cohesion Conference Dinner Media Release The three day conference's theme was Today's Challenges and...

11/12/2017

Jessica Mauboy is Australia's artist for the 2018 Eurovision Song Contest!

Jessica Mauboy is Australia's artist for the 2018 Eurovision Song Contest! Monday 11 December, 2017 Media Release Jessica Mauboy is Australia's arti...

11/12/2017

SBS unveils new look, new app for SBS News

SBS unveils new look, new app for SBS News 11 December 2017 Media Release SBS has refreshed its news portfolio, today launching SBS News with increased capab...

10/12/2017

29 young shuttlers in Japan for Astro Kem Badminton

29 young shuttlers in Japan for Astro Kem Badminton Date Released:10 Dec 2017 Share Tweet Having traveled to multiple locations in Malaysia and Indonesia...

09/12/2017

Kids can now sing to the Bahasa version of Baby Shark' - Bayi ...

Kids can now sing to the Bahasa version of Baby Shark' - Bayi Yu' Date Released:08 Dec 2017 Share Tweet Kids can now sing to the Bahasa version...

08/12/2017

SPA Congratulates AACTA Awards Winners and Nominees 2017

Screen Producers Australia commends the outstanding work delivered by its members and recognized by industry and peers at the 2017 Australian Academy of Cinema ...

08/12/2017

REPORT ON THE INQUIRY INTO THE AUSTRALIAN FILM AND TELEVISION INDUSTRY

Today, our CEO, Matthew Deaner, welcomed the House Standing Committee on Communications and the Arts Report on the inquiry into the Australian film and televisi...

08/12/2017

Foxtel Now streams to Apple TV with AirPlay

Hotly anticipated AirPlay support and HD arrives for iPhones and iPads just in time for the summer streaming season Foxtel today announced that its Foxtel Now ...

08/12/2017

Closed captioning boosts accessibility for Foxtel Now

Closed Captions arrive for iPads, iPhones and Chrome and Safari browsers Foxtel today took another step towards making its incredible content more accessible t...

08/12/2017

Astro bags Corporate Governance Excellence Award and Best ...

Astro bags Corporate Governance Excellence Award and Best Investor Event' Award Date Released:07 Dec 2017 Share Tweet Astro Malaysia Holdings Bhd (A...