SMBC promises to help Toshiba
Bank Sumitomo Mitsui Banking Corp (SMBC), one of the main creditors Toshiba will provide companies the best care possible. About this informed the head of SMBC. The Bank is included in SMBC Sumitomo Mitsui Financial Group.
As we previously reported, Toshiba is preparing to show in the report the enormous loss associated with the activities of the units operating in the field of nuclear energy.
To cover the costs, Toshiba is ready to sell semiconductor business as a whole, although the Board of Directors of the company approved a plan for the allocation of production chips in a separate company and sell its parts. Extraordinary step is necessary for Toshiba to stay afloat for the fiscal year ending in late March, and keep the interest of investors.