Toshiba Climbs Out of Financial Crisis: President

May 15, 2018

Tokyo- Toshiba Corp. President Satoshi Tsunakawa said at a press conference on Tuesday that the major Japanese electronics and machinery maker has got out of a financial crisis.

Toshiba plans to draw up a five-year business program by the end of this year and release it with numerical targets, its chairman, Nobuaki Kurumatani, said at the same press conference.

"Mergers and acquisitions will be an option for our growth fields," Kurumatani said.

He also said Toshiba maintains the policy of selling its flash memory unit, Toshiba Memory Corp., to improve its financial footing, and will await the results of the ongoing antitrust screening by Chinese regulators.

"We have not received negative information about the screening," he added.

In the business year ended in March, Toshiba registered a record group net profit of 804,011 million yen. The company escaped falling into a second straight year of negative net worth and being delisted from the Tokyo Stock Exchange. Jiji Press