Last month, Toshiba Corp. warned the financial markets in Japan that they were launching an internal investigation into “possible problems” with its accounting. The stock exchange’s reaction to the announcement was swift, with the company’s stock price having its biggest one-day drop in value in more than a year. Now unnamed sources are telling the media that the company will have to restate its profits…for a three-year period.
Financial
Report: Job Cuts at Sharp are Much Deeper & More Painful than Expected
BREAKING NEWS
“The bigger they are, the harder they fall.” This old saying will likely resonate with many Sharp Corp. employees who are about to learn that the company is planning major job cuts – far greater than originally rumored – as it tries to turn around its struggling operations and cut its losses. The company’s management – whether voluntarily or forced by their banks – seem to be finally ready to take the drastic steps necessary to make a meaningful change at the company.
See how many employees are about to lose their jobs and other measures being taken… [Read more…] about Report: Job Cuts at Sharp are Much Deeper & More Painful than Expected
Nortek’s AVC Segment in Q1: Less Loss, But Sales are Still Sliding
Nortek Inc. released their fiscal first quarter results this week and they were mixed at best. The company showed a sales increase to $572.7 million, up 4.5% over the $547.8 million booked in the first quarter of 2014. However, the company saw its net losses increase from $8.6 million last year to $13.9 million in the quarter this year. And when it comes to Nortek’s AV businesses, sales in the quarter declined another 9.5%, although the loss attributable to this segment did show some improvement to less of a loss.
See more on our analysis of the Nortek results… [Read more…] about Nortek’s AVC Segment in Q1: Less Loss, But Sales are Still Sliding
JVC Kenwood Restructuring Produces Profits, But Sales Slide Continues
JVC Kenwood Corp. released a summary of results for their fiscal year 2015, the year that ended March 31, 2015, and we continue to see positive profit results from their rather dramatic company-wide restructuring that had them abandoning many consumer categories and refocusing on more commercial enterprises. But we also see a continued and persistent slide in sales that shows no sign of slowing down.
So just how did the company fare last year? See below… [Read more…] about JVC Kenwood Restructuring Produces Profits, But Sales Slide Continues
Whew! First Hurdle Cleared: Banks Say They’ll Help Sharp
If you’ve been holding your breath, waiting to see what is going to happen to troubled Japanese giant Sharp Corp., you can now relax and exhale. The first significant hurdle the company faced on their race to survival appears to be cleared. Media in Japan is now reporting that Sharp’s two banks will support it through a restructuring with a ¥200 billion convertible loan.
But these bank loans come with strings attached. Read on to see what these are… [Read more…] about Whew! First Hurdle Cleared: Banks Say They’ll Help Sharp
Sharp Expected to Report 200 Billion Yen Loss
BREAKING NEWS
In a new report out of Japan today, Sharp Corp. is said to be preparing to report a loss of “more than 200 billion yen” or about $1.66 billion, when they finally release their fiscal year-end results. This report is based on unnamed sources and appeared in the Nikkei.
See more on this rather dramatic news out of Japan… [Read more…] about Sharp Expected to Report 200 Billion Yen Loss
Toshiba Launches Investigation into ‘Possible Problems’ with Its Accounting
Stock Hit With Largest 1-Day Loss in More Than a Year
Toshiba Corp. announced in Japan that it will appoint a committee to investigate what it calls “possible problems” with its accounting. Investors in Japan responded by hitting the company’s stock with its largest one-day drop in more than a year – dropping the value of its stock almost 5%.
See more on just what this probe is all about… [Read more…] about Toshiba Launches Investigation into ‘Possible Problems’ with Its Accounting
IBM to Invest $3 Billion to Launch ‘Internet of Things’ Unit
Momentum Building in Emerging IoT Market
International Business Machines Corp. – the company better known as IBM – announced this week that it will invest a cool $3 billion dollars (yes, that’s billion with a ‘b’) to launch a new division focused on the now rapidly emerging “Internet of Things” (IoT) market. IBM hopes to convince customers it is the expert they need when it comes to “gathering and making sense of the surge in real-time data” according to a Reuters report.
See more on why we feel this story is significant… [Read more…] about IBM to Invest $3 Billion to Launch ‘Internet of Things’ Unit
Stunning Stories of Impending Doom Swirl Around Sharp
In just the last two days, Japanese and U.S. press outlets are releasing a slew of stories of Sharp Corp.’s impending doom in the form of a restructuring announcement that isn’t expected to be officially released until May. Nonetheless, multiple reports have emerged from a wide range of media sources including the Nikkei and Reuters news services with a relatively wide range of estimated job cuts – all citing unnamed sources.
See more on this recent whirlwind of reports on Sharp… [Read more…] about Stunning Stories of Impending Doom Swirl Around Sharp
Sony’s Tightened Partnership with Best Buy Credited for Biz Turnaround
Newly Spun-Off TV Division May Show a Profit for 1st Time in 10 Years
In a new report out of Japan, Sony’s TV business is said to be expected to report an operating profit this fiscal year – its first after ten years of losing money. Due to an improved situation in the U.S. market, the report credits the turnaround in Sony’s U.S. results largely as a function of its tightened partnership with retailer Best Buy.