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Shakes "Toshiba" worst-case scenario? Or Uchidaseru improvement measures

Shakes "Toshiba" worst-case scenario? Or Uchidaseru improvement measures

27 December 2016 | 8:00 am

When the Toshiba in the management reconstruction is likely record an extraordinary loss of new thousands billion yen, media reported some on 27 December. The company has with respect to this report, to announce the results after the same day of the Board of Directors end. Loss that was reported this time, what the US subsidiary Westinghouse maker of nuclear power business over the asset value of CB & I Stone & Webster, which was acquired in 2015 the end of the year. Also in the previous year and recorded an impairment of about 250 billion yen in the nuclear power plant business, it is the situation that further deterioration of the balance sheet is vigilance. Tokyo Stock Exchange to leave December 19, announced to continue the designation of special care market stocks against Toshiba. Here, if they were made for the Toshiba “Special attention market stocks” What measures of the, and let’s look again whether can occur such things as how the future. Development profit padding is in large economy incident Toshiba, heavy electrical, including home appliances and semiconductors, also spread the business to heavy industry sector, to form a huge industry group. Proud of the worldwide name recognition, it is one of the large companies that represent our country. Toshiba in about seven years since fiscal 2008, and discovered that was inflated profits in total 200 billion yen or more, the development to large-scale economy incident that disobeyed compliance of corporate society, rocked the Japanese economy. This for accounting fraud problem is discovered Toshiba, Tokyo Stock Exchange was specified in the special care market stocks on September 15 last year. And later, we have been asked to create a system of laws and regulations with respect to Toshiba, something that was ruled as required thorough further effort, the current decision to continue the designation. “Designated” to companies that conflict with the delisting standards So first, it is necessary to know whether the special attention of such What is a market issue. This is for companies that conflict with the delisting criteria, but did not lead to abolition, the case in which the exchange is high need to improve, such as internal management system has been thought, stocks that you specify in order to alert to investors It refers to. This system was incorporated dates back to 2007. “The information to be disclosed was concealed enterprise side”, is determined as specified in the “in such securities report described a false” and the like, and the should not be as a listed company act “special care market stocks” It was. Prior to that, the penalty of exchange against the offending companies, was only delisting. The “delisting”, but exit sentenced from the listed market for the company. But, but did not make it to the delisting also committed a rule violation, that the Exchange was also a case to be criticized it on the grounds. Therefore, in the suddenly “exit” rather, it leaves and grace for a certain period of time, so plans were to ascertain whether you can rectify it, he a special care market stocks. Separately from the general stocks in the stock section of the newspaper is published in the “special care market stocks” corner, it is disgraceful state is as a company. It should be noted that the specified listed companies after the lapse of one year, must be promptly submitted an “internal management system confirmation” to the exchange. And review the like based on the contents of the “internal management system confirmation” is carried out, when the improved the Exchange has determined, it is possible to return to solved the designated special care market stocks to normal trading stocks . In contrast, no improvement for such internal control system is carried out within one year after special care market stocks specified, if it is determined the exchange that there is no prospect of improvement in the future, also after the special care market stocks specified, 1 year 6 I listed is obsolete if not improved within months. 12 companies so far became delisting Let’s look a little more in detail the history of the special care market stocks system. Is still fresh in memory first have the experience that has been specified in the huge loss Hidden was Roken Olympus also “Special care market stocks” in 2011. By the way, the designation of the special care market stocks initially received is, IHI ‘s . Until now, it was specified in the special care market stocks 30 companies too. Among them now, except for the five companies in the given, in the 13 companies became the designated release at 25 out of a total delisted in 12 companies. Further delisting 12 companies become the three companies had been revoked by the examination out of, such as the remaining nine companies move to the civil rehabilitation proceedings, it has been delisted prior to examination results. In the three companies listed has been canceled by the examination, or been pointed out illegal outflow of funds to the founder, such as in-house compliance consciousness or missing significantly, inappropriate reality went up to reason as a listed company. The worst-case scenario for the Toshiba? Thus in the worst case, but special care market stocks system, which is also likely to take away the business life, the road to Toshiba is subjected to a specified release, it can be said that there is no by no means flat. Toshiba in September, the Tokyo Stock Exchange-listed, the report was submitted to the NSE, it is reviewed and insufficient in the improvement measures such as an internal management system that has been shown, next year March 15, and later to the Toshiba, to submit a report again I was asked to. Initially, the Tokyo Stock Exchange seemed to put the abolition of the decision or listing maintained by around March next year. But Toshiba announced in November and found a sales padding of a subsidiary, is said to have decided to continue the special attention market stocks in response to this. Exchange of judgment for large companies and Toshiba is something very severe. TSE, as specified in the supervision stocks there is a possibility of delisting the Toshiba on March 15 next year, and the delisting unless improvements such as internal management system is recognized in the report, which is further re-submitted, for Toshiba I situations that may be considered a worst-case scenario is. Toshiba has taken similar measures Nagoya Stock Exchange listed along with the Tokyo Stock Exchange. Special attention market remains specified stocks was continued Mamanarazu also funding such as capital increase, is also delay occurs in the financial improvement that Toshiba is advancing. Is received by Toshiba “We specified the continuation of this special care market stocks efforts to establish such as an internal management system, towards the delisting of special care market stocks, continue to the entire company best efforts masu “and has released a comment. TSE of judgment are said to be in the first half of the next fiscal year, whether it improvements thorough compliance so far Uchidaseru, Toshiba will reach a crucial stage. [Recommended article of the editing unit] – [2016 version] was comeback to change jobs popular company rankings champions that company – 1 million yen at 790,000 yen lucrative? 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