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Bold Restructuring

Bold RestructuringBold Restructuring

Toshiba Corp. plans a “bold restructuring” of the industrial group as president Masashi Muromachi seeks to regain investor trust after posting an annual loss and restating six years’ worth of earnings, Bloomberg reported. The net loss was ¥37.8 billion ($317 million) in the 12 months ended March, the company said Monday while also adjusting annual results back to fiscal year 2008. Nomura Holdings Inc. resumed coverage for the first time since withdrawing ratings in May, when the company disclosed accounting problems.

Financialtribune.com