TOKYO —

Norio Sasaki, the new president of Toshiba Corp., said he aims to boost the company’s capital adequacy ratio, which dropped below 14 percent earlier this year, to 30 percent during his tenure as he embarks on the challenge of bringing the electronics giant back into profitability. Sasaki, the 60-year-old former vice president of the company, officially took the helm of the struggling tech giant, which fell deeply into the red for the first time in seven years with its biggest-ever group net loss of more than 340 billion yen in fiscal 2008 ended in March.

The company is aiming to return to the black with an operating profit of 100 billion yen (US$1.1 billion) for the current business year. Toshiba’s capital adequacy ratio, including minority equity, plunged to 13.9 percent at the end of March, but now stands at around 19 percent after the company raised around 500 billion yen (US$5.3 billion) in capital through public stock and subordinated bond offerings. Toshiba plans to rebuild its system LSI operations by focusing resources on profitable products, emphasizing that a spin-off is only a means and not an objective.

JCN

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