Toshiba rebounds to top TSE tier

Jan 24, 2021 | News On Japan

Jan 24, 2021 (NHK) - The Tokyo Stock Exchange says it will allow Toshiba to return to the First Section of traded shares, starting on Friday next week.

The move acknowledges an improvement in the company's financial position.

Toshiba was demoted in 2017 after its debt exceeded assets due to large losses at its nuclear business in the United States.

The firm made an application to return to the top tier last April.

That followed restructuring efforts such as the sale of its semiconductor subsidiary that helped eliminate negative net worth.

The company expects a drop in both sales and operating profit in the current business year through March, due partly to the coronavirus pandemic.

Source: ANNnewsCH

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