Toshiba sheds more assets, cuts jobs to regain investor trust [Reuters]
Korea Electric Power Corporation (KEP)
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home.kepco.co.kr/kepco/en/ntcob/list.do?boardcd=brd_000242&menucd=en03040201
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Source: Reuters
Toshiba sheds more assets, cuts jobs to regain investor trust | Reuters 4 Min Read TOKYO (Reuters) - Toshiba Corp ( 6502.T ) announced on Thursday it is shedding assets, cutting jobs and buying back its stock starting this week, sending its shares up 13 percent, as the once-mighty Japanese conglomerate aims to regain investor confidence. The company announced it is liquidating its British nuclear power unit and selling its U.S. liquefied natural gas (LNG) business to China’s ENN Group as part of a new five-year business strategy, which also includes 7,000 job cuts, or 5 percent of its workforce, over five years. Toshiba’s shares surged 12.7 percent to close near two-year highs after the announcement, helped also by a much anticipated move to repurchase up to 40 percent of its own shares starting Friday. The 143-year-old company has been trying to win back the market’s trust after a 2015 accounting scandal uncovered widespread irregularities at the laptops-to-nuclear conglomerate for
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Analyst Actions
- 2/26/24 - Citigroup Inc.
KEP
Sec Filings
- 4/30/24 - Form 20-F
- 4/30/24 - Form 6-K
- 3/26/24 - Form 6-K
- KEP's page on the SEC website