Toshiba’s huge loss of 29.4 billion layoffs

In August 2013, Toshiba’s former president, Tanaka Yukio, announced that “ medical health is the third pillar after energy and storage.” And only after more than two years, Toshiba took the sign.

On December 21, 2015, Toshiba finally decided to lay off large-scale layoffs due to a record 550 billion yen (about RMB 29.4 billion) net loss in FY2015: Toshiba announced that it will be in the poorly performing home appliance sector. With the company's early retirement and post adjustment, about 7,800 layoffs, plus the semiconductor-related departments that have decided to lay off employees, the total number of layoffs is about 10,600. Among them, it announced that it will transfer more than 50% of the shares of the medical equipment subsidiary, Toshiba Medical (Tamakura Otawara) system to other companies.

"We are negotiating with several companies. We hope to complete the transaction as soon as possible." It can be seen from the words of Toshiba’s current president, Muromachi, who is selling the Toshiba medical system as a “realistic way” to fill huge losses.

Good performance but become a motive for sale

Ironically, Toshiba Medical Systems is a "superior" in the Toshiba subsidiary. In 2015, when other businesses were losing money, the health care business with Toshiba Medical System as its core is expected to achieve profitability. Sales also tend to expand. It is because of the good performance that Toshiba believes that buyers can be found in the short term.

Toshiba Medical Systems is mainly engaged in medical image diagnostic devices such as X-ray CT devices and MRI. In particular, X-ray CT devices occupy a very high share in the Japanese market and also occupy a certain share in the world market. It is estimated that many companies are interested in acquiring Toshiba medical system.

Mr. Gang Chuanzhi, the deputy director of the press conference on December 21 with Muromachi, is the head of the health business department and the former president of Toshiba Medical Systems (see this site report). At the press conference, he was introduced as the head of the lifestyle business unit to introduce structural reforms in the department. When Miyamachi introduced the sale of the Toshiba medical system, Kawagawa’s face began to maintain a subtle expression.

Retain the health care business at headquarters...

The health care business of the headquarters such as the heavy particle beam therapy device, the wearable device, and the genome analysis is not intended to be sold (Muromachi). However, these businesses are still in their infancy. In the short term, there is no significant impact on the sale of Toshiba Medical Systems. Moreover, when they started these new health care businesses, they initially planned to promote the experience of Toshiba's medical system horizontally, and this plan was not realized.

"What will Toshiba be the future?" Facing such a question at the venue, Muromachi’s expression was more serious. "Energy and storage will continue to be the backbone in the future. Although the current market situation of storage is severe, it is believed that it will grow substantially in the future." He did not have the confidence to make this answer.

Toshiba decided to abandon the health care business that should be the “third pillar” due to accounting violations. Even if the financial situation can be temporarily improved through the sale, its prospects are still sinister.

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