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57-605: In April 2008, Marvin Yoder, a consultant on the project, said that Toshiba was planning to make the application to the Nuclear Regulatory Commission in 2009, and that if approval had been given in 2010 or 2011, the reactor could have been operational by 2012 or 2013. The company was also developing a 50 megawatt (electric) version of the reactor. The plan had been to build a 10-megawatt Toshiba 4S reactor that would have been buried underground, and fuel would have powered

114-521: A brand of Toshiba. In March 2014, Toshiba sued SK Hynix , accusing the company of stealing technology of its NAND flash memory. In the late same year, the two companies settled with a deal in which SK Hynix pays US$ 278 million to Toshiba. Toshiba had sued Hynix in the early 2000s for patent infringement . In October 2014, Toshiba and United Technologies agreed a deal to expand their joint venture outside Japan . Toshiba first announced in May 2015 that it

171-807: A building or structure in Alaska is a stub . You can help Misplaced Pages by expanding it . This article about a United States power station is a stub . You can help Misplaced Pages by expanding it . Toshiba Toshiba Corporation ( 株式会社東芝 , Kabushikigaisha Tōshiba , English: / t ə ˈ ʃ iː b ə , t ɒ -, t oʊ -/ ) is a Japanese multinational electronics company headquartered in Minato, Tokyo . Its diversified products and services include power, industrial and social infrastructure systems, elevators and escalators, electronic components, semiconductors , hard disk drives , printers, batteries, lighting, as well as IT solutions such as quantum cryptography . It

228-1047: A contract with Orion Electric , one of the world's largest OEM consumer video electronic makers and suppliers, to manufacture and supply finished consumer TV and video products for Toshiba to meet the increasing demand for the North American market. The contract ended in 2008, ending seven years of OEM production with Orion. In December 2004, Toshiba quietly announced it would discontinue manufacturing traditional in-house cathode-ray tube (CRT) televisions. In 2005, Matsushita Toshiba Picture Display Co. Ltd. (a joint venture between Panasonic and Toshiba created in 2002 ) stopped production of CRTs at its factory in Horseheads, New York. A year later, in 2006, it stopped production at its Malaysian factory, following heavy losses. In 2006, Toshiba terminated sales of CRT TVs in Japan and production of in-house plasma TVs. To ensure its future competitiveness in

285-440: A long history and sprawling businesses, Toshiba is a household name in Japan and has long been viewed as a symbol of the country's technological prowess post- World War II . As a semiconductor company and the inventor of flash memory , Toshiba had been one of the top 10 in the chip industry until its flash memory unit was spun off as Kioxia in the late 2010s. The company was also relevant in consumer personal computers, releasing

342-786: A separate business, to save Toshiba from bankruptcy. In February 2017, Toshiba revealed unaudited details of a 390 billion yen ($ 3.4 billion) corporate wide loss, mainly arising from its majority owned US based Westinghouse nuclear construction subsidiary which was written down by 712 billion yen ($ 6.3 billion). On 14 February 2017, Toshiba delayed filing financial results, and chairman Shigenori Shiga, formerly chairman of Westinghouse, resigned. Construction delays, regulatory changes and cost overruns at Westinghouse-built nuclear facilities Vogtle units 3 and 4 in Waynesboro, Georgia and VC Summer units 2 and 3 in South Carolina, were cited as

399-621: A subsidiary of Toshiba and the Norwegian company Kongsberg Vaapenfabrikk . The incident strained relations between the United States and Japan , and resulted in the arrest and prosecution of two senior executives, as well as the imposition of sanctions on the company by both countries. Senator John Heinz of Pennsylvania said "What Toshiba and Kongsberg did was ransom the security of the United States for $ 517 million." In 2001, Toshiba signed

456-401: A vice president, and provided the technology for bulb-making. Production equipment was bought from GE and Tokyo Denki soon started selling its products with GE's trademark. Toshiba was founded in 1939 by the merger of Shibaura Seisakusho and Tokyo Denki. The merger of Shibaura and Tokyo Denki created a new company called Tokyo Shibaura Denki (Tokyo Shibaura Electric) ( 東 京 芝 浦 電気 ). It

513-568: A year. Earlier in April, the company filed twice-delayed business results without an endorsement from auditor PricewaterhouseCoopers (PwC). On 20 September 2017, Toshiba's board approved a deal to sell its memory chip business to a group led by Bain Capital for US$ 18 billion, with financial backing by companies such as Apple , Dell Technologies , Hoya Corporation , Kingston Technology , Seagate Technology , and SK Hynix . The newly independent company

570-523: Is a price-weighted index , operating in the Japanese Yen (JP¥), and its components are reviewed twice a year. The Nikkei 225 measures the performance of 225 highly capitalised and liquid publicly owned companies in Japan from a wide array of industry sectors. Since 2017, the index is calculated every five seconds. It was originally launched by the Tokyo Stock Exchange in 1950, and was taken over by

627-471: Is a price-weighted index . The index is calculated as follows: A d j P r i c e = P r i c e × A d j F a c t o r {\displaystyle AdjPrice=Price\times AdjFactor} , then ∑ A d j P r i c e D i v i s o r {\displaystyle {\frac {\sum AdjPrice}{Divisor}}} As of July 2024 ,

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684-482: Is updated every 5 seconds during trading sessions. The Nikkei 225 Futures , introduced at Singapore Exchange (SGX) in 1986, the Osaka Securities Exchange (OSE) in 1988, Chicago Mercantile Exchange (CME) in 1990, is now an internationally recognized futures index . The Nikkei average has deviated sharply from the textbook model of stock averages, which grow at a steady exponential rate. During

741-588: The Financial Times reported on 23 January 2006 that Toshiba had won the bid, it valued the company's offer at $ 5 billion (£2.8 billion). The sale of Westinghouse by the Government of the United Kingdom surprised many industry experts, who questioned the wisdom of selling one of the world's largest producers of nuclear reactors shortly before the market for nuclear power was expected to grow substantially; China ,

798-590: The Nihon Keizai Shimbun ( The Nikkei ) newspaper in 1970 , when the Tokyo Exchange switched to the Tokyo Stock Price Index (TOPIX), which is weighed by market capitalisation rather than stock prices. The Nikkei 225 began to be calculated on 7 September 1950, retroactively calculated back to 16 May 1949, when the average price of its component stocks was 176.21 yen. Since July 2017, the index

855-473: The Japanese asset price bubble , the average hit its bubble-era record high on 29 December 1989, when it reached an intraday high of 38,957.44, before closing at 38,915.87, having grown sixfold during the decade. Subsequently, it lost nearly all these gains, reaching a post-bubble intraday low of 6,994.90 on 28 October 2008 — 82% below its peak nearly 19 years earlier. The 1989 record high held for 34 years, until it

912-477: The Japanese asset price bubble . On 4 March 2024, the index surpassed 40,000 (intraday and closing) for the first time in history. On 5 August 2024, amid a global stock market decline, the Nikkei dropped by more than 4,200 points, surpassing 1987's Black Monday as its biggest single-day drop in history. The following day, it bounced back by more than 3,200 points, the largest single-day gain in history. The index

969-459: The United States and the United Kingdom were all expected to invest heavily in nuclear power. The acquisition of Westinghouse for $ 5.4 billion was completed on 17 October 2006, with Toshiba obtaining a 77 percent share, and partners The Shaw Group a 20 percent share and Ishikawajima-Harima Heavy Industries Co. Ltd. a 3 percent share. In late 2007, Toshiba took over from Discover Card as

1026-657: The Brazilian company Semp (Sociedade Eletromercantil Paulista), subsequently forming Semp Toshiba through the combination of the two companies' South American operations. In 1987, Toshiba Machine, a subsidiary of Toshiba, was accused of illegally selling CNC milling machines used to produce very quiet submarine propellers to the Soviet Union in violation of the CoCom agreement, an international embargo on certain countries to COMECON countries. The Toshiba-Kongsberg scandal involved

1083-465: The Navy started to use competitive bids and then build its own works, the demand decreased substantially and the company started to lose money. The main creditor to the company, Mitsui Bank, took over the insolvent company in 1893 and renamed it Shibaura Seisakusho (Shibaura Engineering Works). Shibaura Seisakusho ( 芝浦製作所 , Shibaura Engineering Works) was the new name given to Tanaka Seisakusho after it

1140-504: The Nikkei average breached the 30,000 benchmark, its highest level in 30 years, due to the levels of monetary stimulus and asset purchase programs executed by the Bank of Japan to mitigate the financial effects of the COVID-19 pandemic . On 22 February 2024, the Nikkei reached an intraday high of 39,156.97 and closed at 39,098.68, finally surpassing its 1989 record high, an important milestone since

1197-659: The Social Infrastructure Group in India as Toshiba Transmission & Distribution Systems (India) Private Limited. In January 2014, Toshiba completed its acquisition of OCZ Storage Solutions . OCZ Technology stock was halted on 27 November 2013. OCZ then stated they expected to file a petition for bankruptcy and that Toshiba Corporation had expressed interest in purchasing its assets in a bankruptcy proceeding. On 2 December 2013, OCZ announced Toshiba had agreed to purchase nearly all of OCZ's assets for $ 35 million. The deal

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1254-535: The U.S. Consumer Product Safety Commission. Toshiba first announced the recall in January and said it was recalling the batteries in certain Toshiba Notebook computers sold since June 2011. In May 2016, it was announced that Satoshi Tsunakawa, the former head of Toshiba's medical equipment division, was named CEO. This appointment came after the accounting scandal that occurred. In September 2016, Toshiba announced

1311-462: The U.S., or by Vestel and other manufacturers for the European market. In September 2015, Toshiba shares fell to their lowest point in two and a half years. The firm said in a statement that its net losses for the quarterly period were 12.3 billion yen ($ 102m; £66m). The company noted poor performances in its televisions, home appliances and personal computer businesses. In October 2015, Toshiba sold

1368-484: The company with the largest influence on the index is Fast Retailing ( TYO : 9983 ), at about 10% weight. The Nikkei 225 is traded as a future on the Osaka exchange (OSE). The contract specifications for the Nikkei 225 (OSE ticker symbol JNK) are listed below: The following table shows the annual development of the Nikkei 225, which was calculated back to 1914. The GICS breakdown is shown here. As of October 2023 ,

1425-542: The company's century-long presence in consumer markets. After a rejection to split the company, in 2023 Toshiba was purchased by a consortium led by Japan Industrial Partners (JIP); Toshiba turned private as a result and was delisted from the Tokyo Stock Exchange after 74 years, where it was formerly a constituent of the Nikkei 225 and TOPIX 100 indices. Tanaka Seisakusho ( 田中製作所 , Tanaka Engineering Works)

1482-418: The company's indebtedness to more than 1 trillion yen (about $ 8.3 billion). In January 2016, Toshiba's security division unveiled a new bundle of services for schools that use its surveillance equipment. The program, which is intended for both K-12 and higher education, includes education discounts, alerts, and post-warranty support, among other features, on its IP-based security gear. In March 2016, Toshiba

1539-504: The first mass-market laptop in 1985 and later ranking as a major vendor of laptops; it exited the PC business in 2020 having divested it into Dynabook Inc. Toshiba faced trouble during the 2010s amid a much-publicised accounting scandal that affected its reputation, and the bankruptcy of its subsidiary nuclear energy company Westinghouse in 2017. This forced the conglomerate to shed a number of underperforming businesses, essentially eliminating

1596-642: The first wireless power receiver IC using the Qi 1.2.2 specification, developed in association with the Wireless Power Consortium . In December 2016, Toshiba Medical Systems Corporation was acquired by Canon . A Chinese electrical appliance corporation Midea Group bought a controlling 80.1% stake in the Toshiba Home Appliances Group. In late December 2016, the management of Toshiba requested an "urgent press briefing" to announce that

1653-499: The flat-panel digital television and display market, Toshiba has made a considerable investment in a new kind of display technology called SED . This technology, however, was never sold to the public, as it was not price-competitive with LCDs. Toshiba sold its share in SED Inc. to Canon after Nano-Proprietary, which owns several patents related to SED technology, claimed SED Inc. was not a subsidiary of Canon. Before World War II , Toshiba

1710-482: The founder of the present Oki Denki ( Oki Electric Industry ); and Ishiguro Keizaburō , a co-founder of the present Anritsu . After the demise of the founder in 1881, Tanaka Seisakusho became partly owned by General Electric and expanded into the production of torpedoes and mines at the request of the Imperial Japanese Navy , to become one of the largest manufacturing companies of the time. However, as

1767-462: The image sensor business to Sony . In December 2015, Muromachi said the episode had wiped about $ 8 billion off Toshiba's market value. He forecast a record 550 billion yen (about US$ 4.6 billion) annual loss and warned the company would have to overhaul its TV and computer businesses. Toshiba would not be raising funds for two years, he said. The next week, a company spokesperson announced Toshiba would seek 300 billion yen ($ 2.5 billion) in 2016, taking

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1824-621: The imports and the quality was poorer. The company managed to survive with the booms after the First Sino-Japanese War of 1894–95 and the Russo-Japanese War of 1904–05, but afterward its financial position was precarious. In 1905, the company was renamed Tokyo Denki (Tokyo Electric) and entered into a financial and technological collaboration with General Electric of the US. General Electric acquired 51 percent share of ownership, sent

1881-411: The index finished at 8,016.70 in 1982. The Nikkei started 2013 near 10,600, hitting a peak of 15,942 in May. However, shortly afterward, it plunged by almost 10% before rebounding, making it the most volatile stock market index among the developed markets . By 2015, it had reached over 20,000 mark, marking a gain of over 10,000 in two years, making it one of the fastest growing stock market indices in

1938-457: The keiretsu or allied keiretsu. This loyalty can extend as far as the beer the employees consume, which in Toshiba's case is Asahi . In July 2005, BNFL confirmed it planned to sell Westinghouse Electric Company , then estimated to be worth $ 1.8 billion (£1 billion). The bid attracted interest from several companies including Toshiba, General Electric and Mitsubishi Heavy Industries and when

1995-411: The main causes of the dramatic fall in Toshiba's financial performance and collapse in the share price. Fixed priced construction contracts negotiated by Westinghouse with Georgia Power left Toshiba with uncharted liabilities that resulted in the sale of key Toshiba operating subsidiaries to secure the company's future. Westinghouse filed for Chapter 11 bankruptcy protection on 29 March 2017. Toshiba

2052-479: The newly-found losses in the Westinghouse subsidiary from Vogtle Electric Generating Plant nuclear plant construction would lead to a write-down of several billion dollars, bankrupting Westinghouse and threatening to bankrupt Toshiba. The exact amount of the liabilities was unavailable. In January 2017, a person with direct knowledge of the matter reported that the company plans on making its memory chip division

2109-410: The present Toshiba company. Several people who worked at Tanaka Seisakusho or who received Tanaka's guidance at a Kubusho (Ministry of Industries) factory later became pioneers themselves. These included Miyoshi Shōichi  [ jp ] who helped Fujioka Ichisuke  [ jp ] make the first power generator in Japan and to establish a company, Hakunetsusha to make bulbs; Oki Kibatarō ,

2166-581: The reactor for 30 years. According to Dennis Witmer, an energy consultant with the Center for Energy and Power at the University of Alaska Fairbanks , the project was "effectively stalled." Toshiba never began the expensive process for approval that is required by the U.S. Nuclear Regulatory Commission. 64°44′26″N 156°53′8″W  /  64.74056°N 156.88556°W  / 64.74056; -156.88556  ( Galena, Alaska ) This article about

2223-534: The shares of the Swiss-based advanced-power-meter maker Landis+Gyr for $ 2.3 billion. In 2010 the company released a series of television models including the WL768, YL863, VL963 designed in collaboration with Danish designer Timothy Jacob Jensen . In April 2012, Toshiba agreed to acquire IBM 's point-of-sale business for $ 850 million, making it the world's largest vendor of point-of-sale systems. In July 2012, Toshiba

2280-604: The sponsor of the top-most screen of One Times Square in New York City . It displays the iconic 60-second New Year's countdown on its screen, as well as messages, greetings, and advertisements for the company. The sponsor of the New Year's countdown was taken over by Capital One on 31 December 2018. In January 2009, Toshiba acquired the HDD business of Fujitsu . Toshiba announced on 16 May 2011, that it had agreed to acquire all of

2337-477: The two previous CEOs. Chairman Masashi Muromachi was appointed acting CEO. Following the scandal, Toshiba Corp. was removed from a stock index showcasing Japan's best companies. That was the second reshuffle of the index, which picks companies with the best operating income, return on equity and market value. Toshiba announced in early 2015 that they would stop making televisions in its own factories. From 2015 onward, Toshiba televisions will be made by Compal for

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2394-531: The value of these placements were reduced by its exit from consumer-oriented lines of business. Nikkei 225 The Nikkei 225 , or the Nikkei Stock Average ( Japanese : 日経平均株価 , Hepburn : Nikkei heikin kabuka ) , more commonly called the Nikkei or the Nikkei index ( / ˈ n ɪ k eɪ , ˈ n iː -, n ɪ ˈ k eɪ / ), is a stock market index for the Tokyo Stock Exchange (TSE). It

2451-452: The world. However, by 2018, the index growth was more moderate at around the 22,000 mark. There was concern that the rise since 2013 was artificial and due to purchases by the Bank of Japan ("BOJ"). From a start in 2013, by end 2017, the BOJ owned circa 75% of all Japanese Exchange Traded Funds ("ETFs"), and were a top 10 shareholder of 90% of the Nikkei 225 constituents. On 15 February 2021,

2508-620: Was a company established by Miyoshi Shōichi and Fujioka Ichisuke , two of Japan's industrial pioneers during the Tokugawa / Edo period . It specialized in the manufacturing of lightbulbs. The company was established in 1890 and started out by selling bulbs using bamboo filaments. However, following the opening up of trade with the West through the Unequal treaty , Hakunetsusha met with fierce competition from imports. Its bulb cost about 60 percent more than

2565-525: Was a member of the Mitsui Group zaibatsu ( family-controlled vertical monopoly ). Today Toshiba is a member of the Mitsui keiretsu (a set of companies with interlocking business relationships and shareholdings), and still has preferential arrangements with Mitsui Bank and the other members of the keiretsu. Membership in a keiretsu has traditionally meant loyalty, both corporate and private, to other members of

2622-440: Was accused of fixing the prices of LCD panels in the United States at a high level. While such claims were denied by Toshiba, they agreed to settle alongside several other manufacturers for a total of $ 571 million. In December 2013, Toshiba completed its acquisition of Vijai Electricals Limited plant at Hyderabad and set up its own base for manufacturing of transmission and distribution products (transformers and switchgears) under

2679-459: Was completed on 21 January 2014 when the assets of OCZ Technology Group became a new independently operated subsidiary of Toshiba named OCZ Storage Solutions. OCZ Technology Group then changed its name to ZCO Liquidating Corporation; on 18 August 2014, ZCO Liquidating Corporation and its subsidiaries were liquidated. OCZ Storage Solutions was dissolved on 1 April 2016 and absorbed into Toshiba America Electronic Components, Inc., with OCZ becoming

2736-460: Was declared insolvent in 1893 and taken over by Mitsui Bank. In 1910, it formed a tie-up with General Electric (GE), which, in exchange for technology, acquired about a quarter of the shares of Shibaura. The relation with GE continued until the beginning of World War II and resumed in 1953 with GE's 24 percent shareholding in the successor company, Tokyo Shibaura Denki. This percentage decreased substantially since then. Hakunetsusha ( 白熱舎 )

2793-423: Was estimated to have 9 billion dollar annual net loss. On 11 April 2017, Toshiba filed unaudited quarterly results. Auditors PricewaterhouseCoopers had not signed of the accounts because of uncertainties at Westinghouse. Toshiba stated that "substantial doubt about the company's ability to continue as a going concern exists". On 25 April 2017, Toshiba announced its decision to replace its auditor after less than

2850-440: Was formerly also one of the biggest manufacturers of personal computers , consumer electronics , home appliances , and medical equipment . The Toshiba name is derived from its former name, Tokyo Shibaura Denki K.K. which in turn was a 1939 merger between Shibaura Seisaku-sho (founded in 1875) and Tokyo Denki (founded in 1890). The company name was officially changed to Toshiba Corporation in 1978. A technology company with

2907-416: Was investigating an accounting scandal and it might have to revise its profits for the previous three years. On 21 July 2015, CEO Hisao Tanaka announced his resignation amid an accounting scandal that he called "the most damaging event for our brand in the company's 140-year history". Profits had been inflated by $ 1.2 billion over the previous seven years. Eight other senior officials also resigned, including

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2964-515: Was named Toshiba Memory Corporation , and then renamed Kioxia . On 15 November 2017, Hisense reached a deal to acquire 95% of Toshiba Visual Solutions ( television sets ) for US$ 113.6 million. Later that month, the company announced that it would pull out of its long-standing sponsorships of the Japanese television programs Sazae-san , Nichiyō Gekijo , and the video screens topping out One Times Square in New York City . The company cited that

3021-450: Was preparing to start construction on a cutting-edge new semiconductor plant in Japan that would mass-produce chips based on the ultra-dense flash variant. Toshiba expected to spend approximately 360 billion yen, or $ 3.2 billion, on the project through May 2019. In April 2016, Toshiba recalled 100,000 faulty laptop lithium-ion batteries, which were made by Panasonic , that can overheat, posing burn and fire hazards to consumers, according to

3078-596: Was sold in 1961 by Toshiba in Japan. Toshiba is responsible for a number of Japanese firsts, including radar (1912) , the TAC digital computer (1954), transistor television, color CRTs and microwave oven (1959), color video phone (1971), Japanese word processor (1978), MRI system (1982), personal computer Pasopia (1981), laptop personal computer (1986), NAND EEPROM (1991), DVD (1995), the Libretto sub-notebook personal computer (1996) and HD DVD (2005). In 1977, Toshiba acquired

3135-701: Was soon nicknamed Toshiba, but it was not until 1978 that the company was officially renamed Toshiba Corporation. The company was listed on the Tokyo Stock Exchange in May 1949. The group expanded rapidly, driven by a combination of organic growth and by acquisitions, buying heavy engineering, and primary industry firms in the 1940s and 1950s. Groups created include Toshiba Music Industries/Toshiba EMI (1960), Toshiba International Corporation (the 1970s), Toshiba Electrical Equipment (1974), Toshiba Chemical (1974), Toshiba Lighting and Technology (1989), Toshiba America Information Systems (1989) and Toshiba Carrier Corporation (1999). The first mini-split ductless air conditioner

3192-483: Was surpassed in 2024 (see below). On 15 March 2011, the second working day after the massive earthquake in the northeast part of Japan , the index dropped over 10% to finish at 8,605.15, a loss of 1,015 points. The index continued to drop throughout 2011, bottoming out at 8,160.01 on 25 November, putting it at its lowest close since 31 March 2009. The Nikkei fell over 17% in 2011, finishing the year at 8,455.35, its lowest year-end closing value in nearly thirty years, when

3249-435: Was the first company established by Tanaka Hisashige (1799–1881), one of the most original and productive inventor-engineers during the Tokugawa / Edo period . Established on 11 July 1875, it was the first Japanese company to manufacture telegraph equipment. It also manufactured switches, and miscellaneous electrical and communications equipment. The company was inherited by Tanaka's adopted son, and later became half of

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