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Toshiba Stuns Markets Again, New Whistleblowers Claim More Wrongdoing

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10 New Investigations into Allegations of Improprieties, Including at U.S. Subsidiary

Photo of Toshiba presidentJust when you thought things couldn’t get worse for the aging Japanese industrial giant, Toshiba Corp. again stunned the financial community in Japan – forced to postpone their already delayed financial reports which were expected at the end of August. The company said it was forced to delay the report in the face of ten whistleblowers who have come forward alleging more company misdeeds. The company has launched ten new investigations, including one at a U.S. subsidiary.

See more on this shocking development from the already damaged company… [Read more…] about Toshiba Stuns Markets Again, New Whistleblowers Claim More Wrongdoing

Toshiba Struggles to Get Past Troubles

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Toshiba FacilityToshiba Corp. has been subjected to almost daily press stories and analyses in the Japanese media on their continued struggles in the wake of a huge accounting scandal at the formerly blue-chip powerhouse company. The scandal was likely large in terms of financial losses, but even larger in terms of decimating the reputation of the company and its management. To turn the situation around, the company must start to build a new reputation for reliability. It isn’t going to be easy…

New President, new board, secret ballets…strange stuff… [Read more…] about Toshiba Struggles to Get Past Troubles

Planar Systems Acquired by Chinese Video Wall Maker Leyard Optoelectronic

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Planar logoPlanar Systems, Inc. announced today that it has agreed to be acquired by Leyard Optoelectronic Co., Ltd., a leading Chinese provider of fine pitch LED video wall systems. Leyard will purchase all outstanding shares of Planar stock paying $6.58 per share, valuing the deal at $156.8 million. This represents a 42% premium over the value of the stock at closing before the deal was announced.

See more on this Leyard and this deal… [Read more…] about Planar Systems Acquired by Chinese Video Wall Maker Leyard Optoelectronic

Toshiba’s Top Executive Team Resigns in Wake of Scandal

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BREAKING NEWS

Toshiba CEO Hisao Tanaka
[PHOTO: REUTERS/Issei Kato]
Much as we anticipated in our report yesterday, at a press conference today in Tokyo, Toshiba President Hisao Tanaka has resigned from the company as a result of a broiling accounting scandal in which investigators say company bosses were involved in improperly inflating company profits. Vice Chairman, and Tanaka’s predecessor, Norio Sasaki and adviser Atsutoshi Nishida have also resigned in a startling confirmation of the severity of the crimes, as these executives are some of the most powerful individuals running the company up to now.

See more on this new development… [Read more…] about Toshiba’s Top Executive Team Resigns in Wake of Scandal

Investigators: Toshiba Over-Inflated Profits; Top Execs Knew

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BREAKING NEWS

Company Schedules Press Conference Tuesday; President Expected to Resign

Toshiba FacilityThe Japan Times is reporting today that investigators looking into potential accounting malfeasance at Toshiba Corp. for the five-year period ending March 31, 2015 have released summary findings that confirms that the company management was directly involved in misreporting profits. The news exploded in Japan, as one of its most venerated companies has lost all credibility.

The company has scheduled a press conference for Tuesday in which it is widely anticipated that Toshiba’s President Hisao Tanaka will resign.

But the damage to the company, doesn’t end with Tanaka…see more… [Read more…] about Investigators: Toshiba Over-Inflated Profits; Top Execs Knew

Stressing the Industry, LCD Panel Prices Collapse 10% in 2015

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Photo of LCD panel

In a sign of continuing struggles in the TV business, reports out of Japan indicate that LCD panel prices continue to decline. So far in 2015, the average price of LCD panels have dropped 10%…and show no sign of slowing down.

See what’s driving the decline in sales of LCD panels… [Read more…] about Stressing the Industry, LCD Panel Prices Collapse 10% in 2015

Toshiba’s Troubles Hit Tipping Point

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BREAKING NEWS

Reports Say CEO is Out; Board of Directors Faces Massive Overhaul

Toshiba logoWhen Japan Prime Minister Shinzo Abe announced an initiative to tighten up corporate oversight he couldn’t possibly have known that his administration’s first catch might be his biggest – Toshiba Corp. Toshiba, one of the largest and most respected companies in Japan, is being investigated for what many sources are calling one of Japan’s worst accounting scandals.

See what is coming for this titan of Japanese industry… [Read more…] about Toshiba’s Troubles Hit Tipping Point

Proxy Adviser Tells Japanese Investors to Vote Out CEOs at Sony & Sharp

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Exterior of the Tokyo Stock Exchange
Tokyo Stock Exchange

We live in interesting times! In a news report out of Japan that is, shall we say, unusual – proxy investment advisory firm ISS is recommending that Japanese shareholders vote against the reelection of the top executives at both Sony Corp. and Sharp Corp. at upcoming annual shareholders meeting for the firms. Coming from the land of consensus and support for local brands, this news is quite surprising.

See more on ISS’s recommendation & the reason they suggest these execs must go… [Read more…] about Proxy Adviser Tells Japanese Investors to Vote Out CEOs at Sony & Sharp

Shareholders Slam Sharp’s Stock

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Graphic of Sharp's LogoSharp Corp., as we have previously reported, is going through some seriously tough times. Earlier this month, company-connected sources had told the Japanese media that the company would announce drastic restructuring measures, including significant staff cutbacks – not just in export markets, but on their home turf of Japan as well. And while the company went on to officially announce these cuts, it did not take any additional steps to fundamentally restructure their company, disappointing investors who were looking for much more.

Shareholders in Japan have slammed Sharp for its weak-kneed restructuring…See more… [Read more…] about Shareholders Slam Sharp’s Stock

TV Maker Funai Says 2015 is the Year of 4K…Cheap 4K, That Is

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Funai logoOsaka, Japan-based Funai Electric announced earlier this month that it will release a line of inexpensive 4K televisions in the North American market this fall, in time for the region’s major selling season. The company expects this year to be the year when 4K UHD TVs hit it big and they want to be ready to grab market share with their lineup.

Is it time to drive 4K pricing down to attract the masses? Funai says yes… [Read more…] about TV Maker Funai Says 2015 is the Year of 4K…Cheap 4K, That Is