TOKYO, August 15, 2017 /PRNewswire/ --
Toshiba have been put in the spot light after much controversy as the company narrowly avoided delisting from the Tokyo Stock Exchange (TYO) for delaying its financial results noted Leiko Tokyo Securities.
With the company's financial future still uncertain and a lack of capital at hand, the company has not advanced in talks with the sale of its 'chips unit business' for the financial resources it so desperately needs to stay afloat.
Leiko Tokyo Securities reported to its clients that the 140 year old company is treading on thin ice in regards to coming closer to a delisting. The Tokyo Stock Exchange triggers a company to drop of its exchange once a company has recorded a negative net worth and its liabilities over grow its assets for more than two years in a row.
Toshiba have been battling to win approval over its shareholders as it lost trust over the last few years. Having inflated its profits within the last few years and a dispute between PwC that highlighted that some of its losses that were booked in the business year of 2017 should have been recorded in its previous year, Toshiba disagreed.
"Toshiba's long-term prospectives are fading, the company needs to find an injection of capital to sustain the heavy losses," said Koyasu Oda who heads up the research depatment at Leiko Tokyo Securities.
Its flash memory department recorded significant growth accounting for over 90% of its sales at 96 billion yen compared to the previous year at only 16 billion yen, showing the big leap.
With Toshiba looking to sell its semiconductor division, many companies have been mentioned yet nothing has come off it.
About Leiko Tokyo Securities (LTS)
Founded in 2007, Leiko Tokyo Securities is a leading wealth management firm based in Tokyo, Japan.
Today Leiko Tokyo Securities manage over 12.4 billion in assets under management.
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SOURCE Leiko Tokyo Securities