ã€The debt is 500 billion yen, Toshiba intends to suspend the sale of the storage business? The Nikkei News reported that Toshiba still owed more than 900 billion yen to the bank group at the end of last year. However, at the end of March this year, Toshiba's arrears have already left about 500 billion yen, a decrease of more than 40%. From Toshiba’s dramatic improvement in its financial structure, and accelerating the repayment of debt to reduce creditor’s influence, it is clear that Toshiba’s intention to suspend the sale of the memory sector (TMC) will trigger more market speculation.
The previous attitude of the bank group was to keep the creditor’s rights, thus forcing Toshiba to sell the memory department early. However, this case was delayed by the approval of the Ministry of Commerce of the People's Republic of China. In addition, the bank group’s weakening of the Toshiba’s binding force has given Toshiba more options. There have been B plans to surface.
Toshiba’s new CEO, Nobuaki Kurumatani, had previously stated that the company would not implement the option of abandoning the sale of the chip business unless “any major change†occurred.
It is not known whether the substantial reduction in debt is in line with the definition of “major changes.†The legendary B plan is ultimately expected to be realized in the form of an initial public offering (IPO).
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