Toshiba to apply for return to TSE First Section April 4: 4:44
Toshiba, which is proceeding with business restructuring, has decided to apply for a return from the second section of the Tokyo Stock Exchange to one section on March 3. If realized, creditworthiness will increase, which may lead to smoother fund procurement, etc., and will likely be a tailwind for advancing management reforms.
According to the parties concerned, Toshiba has decided on a policy to apply to the Tokyo Stock Exchange on March 3 to upgrade from the current two copies to one copy.
Three years ago, Toshiba lost its debts due to a huge loss in the US nuclear power business and was demoted from TSE First Section to Second Section.
The company was aiming for early return to one copy, but it was difficult because of the impact of past improper accounting due to the necessity of five years of appropriate securities reports based on the previous standards.
However, in February, the TSE's standards were relaxed and we only needed a two-year financial report, so we urgently applied.
After the application, the TSE will take a few months to review the application, and if the return of the first copy is realized, creditworthiness may increase, which may lead to smoother fund procurement. It is likely to be
Toshiba has revealed that fictitious transactions had been conducted at a subsidiary for the last five years until the last fiscal year, and there is a concern that this may have an impact, but the company is working on investigating the cause and taking measures to prevent recurrence. I want to gain an understanding.