Toshiba, a major electronics manufacturer, will return from the second section to the first section of the Tokyo Stock Exchange for the first time in almost three and a half years on the 29th.
In the form of recognition of management improvement after falling into insolvency, the question will be whether it is possible to accelerate management reforms to strengthen corporate governance and foster new pillars of earnings.
Toshiba was demoted from the first section of the Tokyo Stock Exchange to the second section, where many mid-sized companies are listed, as a result of insolvency due to a huge loss in the US nuclear power business in 2017.
After that, the company resolved the insolvency by increasing capital and proceeded to rebuild its business by selling its main semiconductor subsidiary.
In last year's financial results, TSE approved the return to the first section as management has improved because operating income, which indicates the profit of the main business, increased 3.6 times from the previous year, and on the 29th, it was the first time in almost three and a half years. Will return to.
However, the one-year earnings forecast up to March is expected to decrease sales and profits due to the effects of the new coronavirus, etc., and Toshiba, which sold many businesses to rebuild its business, has an issue of how to grow the pillars of profits. It has become.
In the future, can we strengthen corporate governance in light of the fraudulent accounting problem and losses in the nuclear power business, and accelerate management reforms to foster new pillars of earnings by taking advantage of the creditworthiness that has been enhanced by returning to the First Section of the Tokyo Stock Exchange? Will be asked.