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© 2015 AFPToshiba sells off stake in Finland's Kone
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© 2015 AFP
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Wakarimasen
In order to plug the gap and take advantage off artificially high stock markets........
noypikantoku
next news will be the mass suicides of these Toshiba ex executives.
gogogo
So all those TVCM's for Toshiba elevators on last night are for nothing?
jeff198527
So now Toshiba's accounting scandal/lies are now technically true.
SenseNotSoCommon
The governance elevator doesn't go all the way to the top.
elkarlo
You guys are totally missing the point. WHy is Toshiba selling their stake in other companies? Because, their cash on hand, must in reality be very low. Otherwise they would just carry on, and take the accounting hit. I think this shows how little cash Toshiba actually has. I bet their real Free Cash Flow is alarmingly low. Maybe as bad as Sharp. This is worse, potentially than we think. Maybe not Enron bad, but...
Disclosure, I am bullish on Hitachi.
ebisen
elkarlo, I think they simply might have wanted to reset the situation in order to avoid further share drop. They got a VERY good deal in that Kone stock they were sitting on, anyway. The Europe market will only get more volatile in the next 3-5 years or so.
elkarlo
I hope that you are right. Euro is going to be bad, prolly for the foreseeable future. But Kone is a decent stock to hold. I disagree with hocking their holdings to equalize this charge. They should just bite the bullet like Starbucks did with their Kraft dispute. Just take the charge, and move on.