The Japanese company plans to reduce its reliance on bank loans by borrowing from subsidiaries with ample cash in a bid to raise $1.8bln of its $2.7bln funding needs.
Toshiba’s reform of its audit committee came too late to save the firm’s reputation for fiscal probity. Other Japanese firms need to take note and avoid a similar fall from grace.
With a referendum being held on June 23, a British exit from the European Union is now a distinct possibility. CT asks what the financial impact could be.