Toshiba's strategic review committee to make recommendations soon
Reuters
Published Jul 30, 2021 13:15
Updated Jul 30, 2021 13:50
By Makiko Yamazaki
TOKYO (Reuters) -Toshiba Corp's board said on Friday its strategic review committee would identify core and non-core businesses and soon make recommendations to the board on the strategy of the scandal-hit Japanese conglomerate.
The statement by the Toshiba board updates a pledge it made in late June that the newly formed strategic review committee would undertake a full review of current assets and also engage with potential strategic and financial investors.
The company has been in deeper turmoil since shareholders last month ousted the chairman of the board https://www.reuters.com/business/pivotal-toshiba-shareholder-vote-future-board-chairman-begins-2021-06-25 in a powerful rebuke to the company, which was found to have colluded with the Japanese government to put pressure on foreign investors.
The initial focus of the strategic review committee has been on a full review of Toshiba's businesses, which, when complete, "will facilitate the identification of core and non-core businesses," the statement said.
The group is large and complex, with many lines of business and subsidiaries, operating in many jurisdictions and subject to numerous regulatory considerations, it noted.
But "it is hoped that, in conjunction with the management team, the strategic review committee will soon be able to make recommendations to the board on Toshiba's strategy," the statement said, without giving any time frame.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.