Toshiba

Toshiba Falls By Limit 20%, Bringing 2 Day Loss To 32%, Wiping Out $5 BILLION In Market Cap In Just 2 Days, CDS Soar By Most On Record As Full Extent Of Damage Revealed

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– Toshiba Falls By Limit 20%, CDS Soar By Most On Record As Full Extent Of Damage Revealed:

One day after Toshiba’s new CEO, Satoshi Tsunakawa, pulled a page from the book of his ill-fated predecessor Hisao Tanaka who presided over the biggest accounting fraud scandal in the company’s history, and bowed down during a press conference to apologize to investors, the company’s stock crashed by the limit 20%, bringing its two day loss to 32% and wiping out $5 billion in market cap in two days.

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Toshiba To Build Japan’s Biggest Solar Plants In Fukushima

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– Toshiba to build Japan’s biggest solar plants in Fukushima (Reuters, June 20, 2012):

Toshiba Corp said on Wednesday it will begin building solar plants with a total generating capacity of 100 megawatts on the country’s disaster-hit northeastern coastline, making it the biggest solar project in Japan.

Electronics conglomerate Toshiba, which makes everything from lightbulbs to nuclear reactors, said it will spend around 30 billion yen ($379.6 million) t o build several large-scale solar plants in Minami Soma more than a year after a devastating earthquake and tsunami hit Japan.

The project overtakes an earlier plan by Kyocera Corp , heavy machinery maker IHI Corp and Mizuho Corporate Bank, which said it will launch a 70-megawatt plant in southern Japan.

Toshiba said it will start building the plants this year and aim to start operations in 2014.

Read moreToshiba To Build Japan’s Biggest Solar Plants In Fukushima

Toshiba drops 99 percent on weak chips, outlook hazy

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A man looks at laptop computers at an electronics retailer in Tokyo October 29, 2008

TOKYO (Reuters) – Japan’s Toshiba Corp (6502.T) posted a 99 percent plunge in quarterly operating profit on Wednesday, dragged down by weakness in its mainstay chip operations, but stuck to its recently revised outlook above expectations.

Read moreToshiba drops 99 percent on weak chips, outlook hazy