Increasing Restructuring Costs Do not Change our Long-Term View; Toshiba's Shares Fairly Valued
While Toshiba cuts its operating income guidance for this fiscal year from JPY 60 billion JPY 20 billion, we will retain Toshiba’s fair value estimate of JPY 3,800, as the revision is mainly the result of a onetime factor, and so it does not change our long-term view. After the three years of crisis, owing to the accounting scandal in 2015 and the huge impairment loss of the nuclear plant business in 2016, we consider that Toshiba made steady progress to divest risky businesses, to restructure i...Toshiba is engaged in the manufacture and sale of electronics and energy products. Along with its affiliates, Co. operates in six business segments: energy systems & solutions, infrastructure systems & solutions, retail & printing solutions, storage & electronic devices solutions, industrial ICT solutions, and others. Co. provides thermal power generation systems, nuclear power generation systems, water supply and sewerage systems, instrumentation and control systems, environmental systems, automatic railroad station equipment, transportation equipment, POS systems, small-signal devices, information technology ("IT") solution services, personal computers, tablets, televisions, and others.
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