2015 should be the most turbulent year for Toshiba in 140 years. It was hard to cover up the seven years of financial fraud. After being smashed at the beginning of the year, Toshiba fell into the mud of the scandal, and it was getting deeper and deeper and it was difficult to get rid of it. According to Japanese media reports, Toshiba announced on December 21 that it expects a net loss of 550 billion yen in FY2015, setting a record high.
In fact, the crisis began to brew in 2008. The international financial crisis of that year almost caused Japan’s electronics giants to annihilate and fall into losses. Although the adjusted Toshiba has signs of recovery, it is still difficult. In 2010, it sold the Singapore LCD factory, which has suffered losses, to AU Optronics. According to the Nihon Keizai Shimbun, the deal is expected to be about 10 billion yen.
During the financial crisis, Toshiba also had a long-term layout in the energy and storage sectors. On the one hand, Toshiba accepted the transfer of Fujitsu's hard disk device business in 2009, enabling Toshiba to develop production servers and enterprise storage with its leading flash memory technology (NAND Flash Memory) and Fujitsu's technology in enterprise hard disk. The SSD products used in the device consolidate its importance in the small hard drive market and expand enterprise-class hard drive business and technology.
On the other hand, in order to occupy the leading position in the field of nuclear power, Toshiba acquired Westinghouse Electric in 2006. At the same time, in 2011, it acquired the world's leading supplier of energy metering equipment, systems and services, Landis+Gyr. At that time, the Langjier Group ranked first in the global market for electric energy metering and civil smart meters. At the same time, Sony, Toshiba, and Hitachi merged the small and medium-sized panel business, and the company JDI was established on April 1, 2012.
However, the day is not as good as people's wishes. After the earthquake in Japan in 2011, due to factors such as the high exchange rate of the yen and the obstruction of the nuclear power business, Toshiba has been struggling to develop new business and maintain its original profits. In 2012, Toshiba's digital products (TV and PC) division suffered a large loss, of which only TV business lost 50 billion yen (about 500 million US dollars). Moreover, in 2013, with the entry of Internet TV brands with low-priced slogans, the domestic TV market was more competitive. At the end of the year, Toshiba stopped TV production, handed it over to TCL, and set up a joint venture to sell TV products. However, Toshiba’s TV business in China is still in a slump.
In 2014, China's color TV industry experienced the first decline in sales volume and sales in the past 30 years. Toshiba seems to have predicted that it has also suffered a hundred years of hardship, and Toshiba has adjusted its philosophy and products in order to reverse the downturn. On November 17, 2014, Toshiba launched its new corporate philosophy in Shenzhen – “Human Smart Community by lifenology-the technology life requiresâ€. At the same time, Toshiba also announced adjustments based on the original product layout, including "energy" (including energy generation and reuse, transmission and distribution, etc.), "storage" (including storage products and data centers, etc.) “ Medical †(including imaging diagnostic devices, disease prevention, care, and emerging portable electronic medical devices ) is its three pillar industries.
Toshiba's good blueprint is not satisfactory. The 2014 financial report should have been released in early 2015, but due to the financial scandal, it was postponed until September 7, 2015. Although the sales increased by 2.6% compared with the previous fiscal year, the net loss was The amount is 37.8 billion yen (about RMB 2.02 billion). On the same day, Toshiba also released the results of the financial report revisions of the past seven years. The revised financial report shows that Toshiba’s pre-tax profit for the fiscal year 2008 to fiscal 2013 was 224.8 billion yen, and net profit was 155.2 billion yen.
With this loss, Toshiba faced the biggest ticket in history. According to a report by Japan’s Kyodo News on December 7, the Toshiba’s long-term misrepresentation of profits, the Japan Securities Exchange and other surveillance committees on the 7th, according to the "Financial Commodities Exchange Act," recommended that the Financial Department to the Toshiba company in the history of the largest 7.736 billion yen (about A penalty of RMB 380 million was issued, indicating that there was a false record in the Toshiba Securities Report. This is undoubtedly worse for Toshiba, which has suffered losses for many years. In order to meet this huge ticket, Toshiba has accelerated the sale of its unprofitable business and even sold its core business.
In the face of the pressure of the market, Toshiba sought to break through. Toshiba subsidiary Toshiba LifeStyle announced that it will cooperate with China's home appliance company Skyworth Group in the white goods business in October. It will liquidate two local sales subsidiaries in China and will commission Skyworth to sell refrigerators and washing machines in China. And vacuum cleaner.
In December, the sound of Toshiba's various business sales was endless. According to relevant sources from Toshiba, the company is studying the sale of "white goods" business such as refrigerators and washing machines. The main solution of the research is to merge the white electricity business with Sharp, which is undergoing business restructuring.
In addition, Toshiba President Muromachi Masato held a press conference at the head office in Tokyo on the evening of December 21. Toshiba plans to sell Indonesia's TV factory and stop selling TV in overseas markets. The company also negotiated a merger with Fujitsu and VAIO to consolidate its computer business. Toshiba has agreed to sell the imaging sensor business to Sony.
Even Toshiba announced the transfer of more than 50% of its medical device subsidiary, Toshiba Medical Systems, to other companies. This means that Toshiba has just broken the three pillar industries of medical, energy and storage. Toshiba’s current president, Muromachi, said: “We are negotiating with several companies and hope to complete the transaction as soon as possible.†It is clear how Toshiba hopes to improve the current financial situation by selling medical systems.
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