Financial Times (April 13)
“A charitable take on things would be that Toshiba — a 146-year-old industrial masterpiece that fancies itself as the “Mona Lisa” but more often comes across as “The Scream” — has reached this important landmark via the scenic route.” Since this “included accounting fraud, a brush with bankruptcy, multiple chief executive resignations and a four-year war with investors,” it could also be said that Toshiba “finds it institutionally hard to read signs or admit it is lost.”
Tags: Accounting fraud, Bankruptcy, Charitable, Industrial, Investors, Landmark, Mona Lisa, Resignations, Toshiba
The Economist (April 9)
“Toshiba was once synonymous with Japan’s industrial might.” Over the past decade, it “has become a byword for drama,” which has included accounting fraud and an ongoing “series of ‘slapstick’ struggles between management and shareholders.” A possible buy-out led by Bain Capital has “raised hopes among investors for some sort of resolution to the saga.” This could potentially prove a watershed moment and “be a big deal for Japan.”
Tags: Accounting fraud, Bain Capital, Buy-out, Drama, Hopes, Industrial might, Investors, Japan, Management, Shareholders, Slapstick, Struggles, Toshiba
