Tagged With "Korean-Japanese"
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Hon Hai CEO says Sharp to decide on investment within week
Taiwan's Hon Hai Precision Industry Co ( 2317.TW ) said on Sunday that it was confident of its offer for Sharp Corp ( 6753.T ) and expected the struggling Japanese electronics maker to come to a decision on the issue within the week. The comments by Terry Gou, chief executive of the world's largest contract electronics manufacturer, came after he met with Sharp's board on Saturday in Japan. "I am not just bringing capital. I am bringing an entrepreneurial spirit. I am bring a culture of...
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Discussion about Sharp Corp & Possible Foxconn Take Over
In recent news it seems that Sharp Board of Directors is favoring and wants to explore the Foxconn takeover aka buyout more. Foxconn offer is almost twice that of Japans INCJ (Innovative Network Corp of Japan). From what I've read, is that INCJ is a public-private partnership between the Japanese government and 19 major corporations. (got that from wiki). The government of Japan also provide monetary guarantees to INCJ. Foxconn is located in New Taipei City in Taiwan, in...
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Japan Fund Said to Pitch Sharp on Plan for Smart-Appliance Giant
Innovation Network Corp. of Japan is pitching Sharp Corp.’s board on plans to create a Japanese smart home-appliances giant, as the state-backed fund seeks support for its bailout bid over a rival offer from an overseas bidder, people with knowledge of the matter said. INCJ, which has offered to inject about 300 billion yen ($2.6 billion) of new funds into Sharp, aims to use about 100 billion yen of that amount for acquisitions of other domestic appliance businesses, one of the people said.
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Sharp Corporation board picks Hon Hai offer over state-backed fund rescue
Sharp board members have decided to give Hon Hai preferred negotiating rights, choosing the Taiwan firm's offer over a rescue plan from a Japanese state-backed fund, a source familiar with the move said on Thursday. Hon Hai, also known as Foxconn and one of Apple's key iPhone assemblers, offered over 700 billion yen ($5.9 billion) for Sharp, more than double the amount of investment proposed by the fund, according to Japanese broadcaster NHK. Both Sharp and Hon Hai declined to...
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Foxconn says agreed with Sharp on most points of a takeover deal
Taiwan's Foxconn is aiming to finalise a deal to acquire Japan's Sharp Corp by the end of the month, after the two firms reached a consensus on most points, Foxconn Chief Executive Officer Terry Gou said. Foxconn, known formally as Hon Hai Precision Industry Co, has been given preferred negotiating rights and most remaining issues to be resolved were legal and regulatory, Gou said after meeting with executives of the struggling electronics maker on Friday. The Apple Inc supplier has offered...
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Standard & Poor moves Sharp back out of 'selective default'
TOKYO: Ratings agency Standard & Poor's on Wednesday moved Japanese electronics maker Sharp back out of "selective default", just a day after lowering its assessment of the troubled company. The temporary move into selective default (SD) came Tuesday after Sharp announced that it was issuing preferred securities to its main lenders, instead of repaying loans that were due. "We lowered the long- and short-term corporate credit ratings to 'SD' because Sharp carried out a de facto...
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Sharp posts big loss on smartphone downturn
TOKYO: Japanese electronics giant Sharp on Friday posted a whopping six-month net loss of nearly $700 million, hit by restructuring costs and a slump in demand for its smartphone screens. The liquid-crystal display giant, which is key supplier to...
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Out of desperation, Sharp begs its own workers to buy Sharp products
Sharp’s electronics business is currently in such dire straits that it’s now asking its workers to buy its own products to help it pull in some much needed revenue. While you might consider it a matter of routine for company employees to consider their own products over a rival’s, the Japanese company’s timing suggests that in this case, their livelihoods may depend on such action. To ensure it doesn’t put too much pressure on its lower-paid workers, the company has even created a list...
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Foxconn already calling shots on management reshuffle at Sharp
OSAKA -- Sharp named new executives Tuesday, reflecting the wishes of Taiwan's Hon Hai Precision Industry , also known as Foxconn, which will become the new owner of the troubled Japanese electronics maker. Katsuaki Nomura, chairman of Sharp's large-panel manufacturing affiliate Sakai Display Products, will serve double duty as a Sharp executive vice president. The affiliate's president, Taimi Oketani, will become a Sharp executive managing officer. Both will begin their new roles Wednesday.
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Sharp seeks to nearly double number of recruits following takeover deal
OSAKA – Sharp Corp. said Monday it will nearly double the number of new recruits for fiscal 2017 as the struggling electronics maker seeks to rebuild itself under Taiwan’s Hon Hai Precision Industry Co. Sharp plans to hire 290 graduates — 200 university graduates and 90 high school and vocational school graduates. This compares with the 151 it hired in the last round. The plan was unveiled days after Sharp and Hon Hai signed a takeover deal that will mark the first foreign acquisition of a...
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Hon Hai set to hold talks with Sharp in China
Hon Hai Precision Industry Co (鴻海精密) is to hold a sales meeting with Sharp Corp at Foxconn’s plant in Shenzhen, China, next Monday in an effort to help boost the sales of the Japanese company’s products worldwide, a top Hon Hai executive said yesterday. “We plan to discuss sales in Taiwan, Southeast Asia, India, China and Hong Kong during the meeting,” Hon Hai vice chairman Dai Cheng-wu (戴正吳) told reporters on the sidelines of a Sharp product demonstration event at one of Hon Hai’s factories...
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Fujitsu to Deliver New Services Leveraging the World's First Business Management Platform from US-based Domo
TOKYO, Sep 16, 2015 - (JCN Newswire) - Fujitsu Limited today announced that it has reached an agreement with Domo, Inc. to leverage Domo's business management platform in delivering new services and value to Fujitsu's customers. Domo...
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Sharp may spin off LCD unit, seek investment from govt-backed fund - source
TOKYO (Reuters) - Loss-making Japanese electronics maker Sharp Corp may spin off its LCD panel business and seek funding for it from the government-backed Innovation Network Corporation of Japan (INCJ), a source familiar with the plan said on...
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Konica Minolta acquires printing business of Monotech Systems
NEW DELHI: In a bid to have direct interface with its customers, Japanese printer firm Konica Minolta today said it has acquired the production printing business of Monotech Systems. The company, however, did not disclose financial value of the...
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World War II veteran brought copy machines to Grand Rapids
GRAND RAPIDS, MI -- When William S. Reed saw the first copier in the late 1950s, he knew the machines would be indispensable to businesses. Reed didn’t invent the ubiquitous office technology, but his Grand Rapids firm sold the first models in the region. That foresight helped him build the largest office equipment dealer in West Michigan. “My father is responsible for creating more paperwork in West Michigan than anybody else,” quips Reed's son, Russ. The Grand Rapids resident, who was a...
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Toshiba Profits Soar, Exits North American TV Business
TOKYO - Toshiba said Thursday it was getting out the North American television business and selling its brand in the market to Taiwanese manufacturer Compal Electronics, as the conglomerate reported soaring nine-month earnings. The Japanese company,...
Blog Post
Sharp CEO States "I believe it is my responsibilty to...)
Here's a quote from the CEO of Sharp: "I believe it is my responsibility to compile a new business plan as soon as possible," Sharp Chief Executive Officer Kozo Takahashi told reporters at a briefing in Tokyo on Tuesday. Sharp will present a...
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Japan’s Sharp Cutting It Close
Japan’s Sharp Cutting It Close By Aaron Back Wall Street Journal March 4, 2015 5:07 a.m. ET Sharp Corp. has had a sword dangling over its head for years. The once-iconic Japanese electronics company may survive yet another brush with death, but it still has no convincing turnaround plan. In a normal market economy, Sharp would probably have gone under by now. But this is Japan, where corporate bankruptcies are exceedingly rare. The company was bailed out by its lenders in 2012. The following...
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Lenders want bold overhaul of Japan's Sharp as another bailout looms
(Reuters) - Loss-making Japanese electronics firm Sharp Corp meets its main banks on Thursday in an effort to secure its second major bailout since 2012, betting they will have little choice but to pay up despite their call for more drastic overhauls....
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Toshiba says plans M&A to expand healthcare business
KAWASAKI, Japan (Reuters) - Toshiba Corp plans to spend billions of dollars on mergers and acquisitions to boost annual sales in its healthcare division to 1 trillion yen ($9.78 billion) by March 2018, President Hisao Tanaka said on Thursday. The...
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Japan’s Ricoh Throws Hat in Ring To Develop, Distribute 3D Printers
A number of Japanese tech companies are poised to enter the 3D printer market, with Ricoh , Japan’s leading multinational precision instrument company already developing a 3D printer for car and machinery parts they aim to have in production by 2016. They hope to capitalize on demand for mass production as well as prototyping. The printers are expected to be priced between $46,900 to $187,670. Ricoh is targeting small and midsize parts makers as potential clients. In the meantime, in efforts...
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Sharp Plans to Raise 166 Billion Yen From Share Sales
Sharp Corp. (6753) , a supplier of screens to Apple Inc., will raise as much as 166.4 billion yen ($1.7 billion) in share sales in an effort to rebuild its balance sheet after record annual losses. Japan ’s largest maker of liquid-crystal displays will sell as much as 149 billion yen of shares to the public, the Osaka-based company said in a statement today. The company also will make allotments to Makita Corp. (6586) , Denso Corp. (6902) and Lixil Group Corp. (5938) , with proceeds to be...
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Bangalore, Oct 3 — Infosys Ltd Thursday signed a multi-year contract with Japanese auto major Toyota Motor to manage its IT services in Europe.
Bangalore, Oct 3 — Infosys Ltd Thursday signed a multi-year contract with Japanese auto major Toyota Motor to manage its IT services in Europe. "The four-year deal envisages deployment of a managed service model, covering applications across Toyota's operational areas in Europe, including automotive processes to enable its IT employees focus on business and project development," the global software major said in a statement here. The IT bellwether has been a key partner of Toyota for its...
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Ricoh MP 3352/2553 series
Ricoh Japanese Brochure, wish I could read Japanese http://www.ricoh.co.jp/pdf/34211632/MP_3353_2553.pdf
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Toshiba: What's going wrong?
The Japanese industrial giant has had about 45% of its value wiped off since 26 December. That came after it warned of a heavy one-off loss at its nuclear business that some expect to near $6bn (£4.7bn). It has dealt a huge blow to the company as it tries to move on from a profit-inflating scandal. What has gone wrong? Most people still recognise the name Toshiba for its electrical products but that is no longer at the heart of its business. It no longer makes televisions for export, for...
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Toshiba Chairman to Step Down over Multi-Billion Dollar Write-Downs
Toshiba Chairman to Step Down over Multi-Billion Dollar Write-Downs TOKYO – Japanese tech giant Toshiba’s chairman will step down soon over the multi-billion dollar write-downs linked to the acquisition of a company in the United States, Japanese media reported Saturday, citing sources close to the matter. Shigenori Shiga was chairman of Westinghouse Electric, the Japanese group’s US nuclear power unit, which is facing a considerable loss after the acquisition of American nuclear...
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Toshiba to sell part of chip business, puts overseas nuclear ops under review
Toshiba Corp ( 6502.T ) said it will sell a minority stake in its memory chip business as it urgently seeks funds to offset an imminent multi-billion dollar writedown, adding that its overseas nuclear division - the cause of its woes - was now under review. The drastic measures are set to be just some of the tough choices the Japanese conglomerate will have to take as proceeds from the sale are likely to only cover part of a charge that domestic media has put at $6 billion. Still battered by...
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Toshiba receives bid as high as $3.6 billion for chip business stake: Source
Toshiba has received an offer as high as 400 billion yen ($3.6 billion) for a 19.9 percent stake in its flash memory business, with other bids as low as 200 billion yen, a person directly involved in the deal told Reuters. Suitors include rivals SK Hynix and Micron Technology , and financial investors like Bain Capital. The Japanese conglomerate was seeking to raise around 300 billion yen from the stake sale, said the source, who declined to be named because he is not authorized to speak to...
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Sharp reportedly to lay off 1,000 employees after Hon Hai deal
Tokyo, April 28 (CNA) Sharp Corp. is planning to lay off about 1,000 employees as part of its efforts to strengthen its financial structure after the loss-incurring Japanese firm inked an agreement to sell a majority stake to Taiwan's Hon Hai Precision Industry Co. (鴻海) earlier this month, according to a news report. The Nihon Keizai Shimbun (Nikkei) said that although Hon Hai had said it would retain as many of Sharp's employees as possible after the acquisition deal, as the Japanese firm's...
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Merger comes unplugged for Japan PC makers
TOKYO -- A plan to merge the personal computer businesses of Toshiba , Fujitsu and Sony spinoff Vaio has been scrapped. The trio failed to come up with a growth plan for after the integration, despite hopes that with over 30% of the Japanese market between them, a single entity would be in a good position to compete overseas. As the global PC market continues to shrink, the once-mighty Japanese electronics giants continue to struggle. "After all that talking, we still couldn't reach an...
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Sharp to move headquarters to Sakai plant operated with Hon Hai
OSAKA – Sharp Corp. is considering moving its headquarters to a plant in Osaka Prefecture, jointly operated with Taiwan’s Hon Hai Precision Industry Co., which has agreed to take over the struggling electronics maker, sources close to the matter said Wednesday. The envisaged relocation within the prefecture from the city of Osaka to Sakai is designed to strengthen coordination with Hon Hai, an Apple Inc. supplier better known by its trade name Foxconn as Sharp aims to become profitable...
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Foxconn Founder Warns Layoffs Are Needed to Revive Sharp
Foxconn founder Terry Gou said there would have to be layoffs at Sharp to turn around the ailing Japanese company, but pledged that wages would rise and profit-sharing would again be the norm. “Unfortunately, a close review of the company’s operations makes it clear that the level of inefficiency throughout Sharp means that a turnaround … can only take place if there is a reduction in costs, and that comes with a very regrettable need to reduce Sharp’s workforce,” Gou wrote in an open...
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Ricoh Profit down 85%, 3D printing plans on hold?
Japanese electronics company Ricoh ( OTCMKTS:RICOY) have announced their most recent financial results. In numbers released today for the six months ending 30 September 2016 the multinational reports that trading conditions remain unfavorable with an 85.5% decrease in profit compared to the prior period. The company has been hit hard by currency exchange rate movements and explained that the decrease in sales of 11.3% was due a slowdown in there Imaging & Solutions and Industrial...
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Sharp CEO Tai says to step down once stock returns to TSE first section
Sharp Corp ( 6753.T ) CEO and President Tai Jeng-wu told reporters on Monday he would step down once the Japanese electronics maker turns profitable again at the net level and its shares return to the first section of the Tokyo Stock Exchange. Tai, vice chairman of Foxconn, became president of Sharp in August after the Taiwan company, formally known as Hon Hai Precision Industry Co Ltd ( 2317.TW ), took control of the Japanese firm. The Tokyo Stock Exchange moved Sharp shares to the bourse's...
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Kyocera to buy British IT and office equipment company
OSAKA -- Kyocera will acquire a U.K.-based supplier of office equipment and information technology services, aiming to shore up its own printer and copier operations in Europe and the U.S. to compensate for its flagging component business. The Japanese company is expected to buy Annodata through subsidiary Kyocera Document Solutions for around 10 billion yen ($87.7 million). The companies are seen inking a deal as early as Tuesday U.K. time. Based in the English county of Hertfordshire,...
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Samsung Could Be Selling This Business to HP for $1.8 Billion
Report says announcement could come next week. Samsung Electronics is considering selling its printer business to HP in a deal worth around $1.8 billion as the South Korean company shifts focus to its core businesses, the reported Friday. The paper, citing an unnamed senior Samsung source, said the Korean firm will likely announce a decision on the potential sale by next week. A Samsung spokesman said the company does not comment on rumors or speculation. HP’s office in Seoul could not be...
Blog Post
Hard Copy Industry Decline....Whoa We're Not Dead Yet!
Below is a summary that I picked up from Photizo in reference to the State of our Industry. I posted a rebuttal at the end. Enjoy! By: Charles LeCompte June 4th, 2013In the first quarter of 2013, for the first time in two years the...
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Toshiba Suing Western Digital for $1.1 Billion
Japan's Toshiba (NASDAQOTH: TOSBF) has filed a fresh lawsuit against U.S. storage giant Western Digital (NASDAQ: WDC) . The suit, filed in Tokyo District Court, centers on Toshiba Memory Corporation, a 50-50 joint venture operated by the two companies. Toshiba has been attempting to sell the unit on its own in order to help shore up a damaged balance sheet. It selected a buyer, a consortium of Japan's Innovation Network Corporation, Bain Capital Private Equity, and Development Bank of Japan.
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Konica Minolta has launched a pocket-sized device that alerts you about unpleasant body smells via an app
Japanese camera firm Konica Minolta has launched a pocket-sized device that alerts you about unpleasant body smells via an app. The device, called KunKun Body (KunKun means 'sniff,sniff' in Japanese) detects specific chemicals that cause smells associated with the scent of perspiration or body fat. The device is currently only available in Japan, with no plans to sell it outside of Japan, and costs 30,000 yen (US$265 or £206). Scroll down for video The KunKun Body device (left) works by...
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Toshiba Could Net Billions Selling Lesser-Known Assets
Toshiba Corp. is in the process of selling its prized chips business for $20 billion in badly needed funds, having already hived off a medical device unit and nuclear power. The Japanese company also owns shares in a hodgepodge of 37 companies, involved in everything from vacuum cleaners to airport souvenir shops. Bloomberg Gadfly columnist Shelly Banjo says Toshiba should sell those too.
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Canon to enter medical, security & surveillance space
New Delhi , Jul 30 Japanese imaging technologies leader Canon is expanding its product portfolio in India with plans to enter into segments, including medical equipment, security and surveillance cameras expecting the country to be one of its growth drivers in Asia in coming years. The company, which has acquired Toshiba Medical systems last year, would introduce the brand into the medical devices by next year. "India as a market has a potential in the future. New medical equipment is...
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Western Digital CFO: Toshiba unit sale 'desperate' and a ‘disaster’
Western Digital has fighting words for partner Toshiba as the Japanese company considers selling its chip unit to another suitor. San Jose-based Western Digital has been pursuing exclusive discussions with Toshiba to purchase its chip unit. But one of its executives issued fresh attacks on Toshiba on Monday, according to a Bloomberg report. “We are deeply troubled by the tension between the depth of Toshiba’s desperation and their willingness to do things that we didn’t think they would do...
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Brave is the auditor that takes on Toshiba’s accounts
PwC Aarata took a big gamble last year when it took over the audit of Toshiba’s scandal-marred accounts. Its predecessor Ernst & Young ShinNihon had incurred heavy reputational damage after regulators in 2015 accused the accounting firm of failing to detect that the Japanese industrial conglomerate had inflated its profits by $1.3bn over seven years. It was a risky wager but one that also posed an opportunity for PwC, which has the smallest share of the Japanese auditing market among the...
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Japanese investment fund, U.S. equity firm to make joint bid for Toshiba Memory
State-backed investment fund Innovation Network Corporation of Japan (INCJ) and American private equity firm Kohlberg Kravis Roberts & Co (KKR) plan to make a joint bid for Toshiba Corp's semiconductor memory unit, it has been learned. Initially, a "Japanese federation" consisting of major Japanese companies aimed to bid for the unit, but with firms in the federation continuing to express difficulties over the provision of a meaningful capital injection, the fund-driven model involving...
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Toshiba Partners Brace for Possible Bankruptcy Filing
Toshiba Partners Brace for Possible Bankruptcy Filing TOKYO— Toshiba Corp.’s business partners are preparing for a scenario in which the company seeks to reorganize under Japanese bankruptcy … The Wall Street Journal 17h Bankruptcy Filing
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Sharp commits $1bn to SoftBank tech fund
SoftBank has clinched another investor for its $90bn-plus technology fund. Sharp, the Japanese electronics group that was acquired by Foxconn for $3.5bn last year, said it will commit $1bn to the Saudi-backed SoftBank Vision Fund over a five-year period. read the rest here
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Toshiba reports massive loss for year over Westinghouse woes
TOKYO — Toshiba, whose U.S. nuclear unit Westinghouse has filed for bankruptcy protection, is reporting a 950 billion yen ($8.4 billion) net loss for the fiscal year ended March. The Japanese electronics giant's results have failed to win auditors' approval from the previous quarter, after questions were raised over the acquisition of U.S. nuclear construction company CB&I Stone and Webster. Tokyo-based Toshiba Corp. called the results released Monday as projections, rather than results,...
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Toshiba sees annual loss of almost $1 billion after tax related to chip unit sale
TOKYO (Reuters) - Embattled Japanese conglomerate Toshiba Corp said on Monday it now expects to slide to a net loss of nearly $1 billion this business year after calculating taxes related to the sale of its prized chip unit. FILE PHOTO : A logo of Toshiba Corp is seen on a printed circuit board in this photo illustration taken in Tokyo July 31, 2012. REUTERS/Yuriko Nakao/File Photo Toshiba, which separated out the unit in April as a prelude to a sale, said it was being taxed on the basis of...
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Losses At Fraud-Hit Ricoh India Hit Japanese Parent
Troubles of imaging and printing equipment maker Ricoh India Ltd. have hit its Japanese parent. Ricoh Company Ltd. lowered its profit estimates by 10,000 million yen (Rs 571 crore) to factor in losses at its fraud-hit Indian arm, the Japanese company said in a filing. It has taken a charge of close to 30,000 million yen (Rs 1,711 crore) for its India business in the year to March 2018. Due to the anticipated losses arising from the subsidiary, “we revised downwards the forecast of our...
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Ricoh to introduce new material for high speed 3D printer
Ricoh will launch a new material for its SLS RICOH AM S5500P 3D printer at formnext. The company is claimed to be first to develop polybutylene terephthalate (PBT) for SLS machine. PBT has high strength property and is a heat resistant material according to Ricoh. Its application range includes parts for electrical components extending from automotive motors to bathroom furnishings. Ricoh says that PBT’s compatibility with SLS RICOH AM S5500P enables its first branded 3D printer to handle...