Toshiba said decisions on directors will be discussed at the board meeting, and an announcement will be made, but declined to comment on the resignation.
Some questions had been raised, both within and outside the
The CVC deal, received last week, is estimated to be worth
Trading in the company’s shares was suspended when the news hit last week. Shares of Toshiba, whose sprawling business includes making elevators and railways, shot up on the CVC news, and have been trading at about
CVC is a European private equity firm, based in Luxembourg, which has committed nearly
Kurumatani will be replaced by his predecessor,
Toshiba, founded in 1875, was long revered as one of Japan’s respected brands, developing the nation’s first radar and microwaves, electric rice cookers and laptop computers.
It also invented flash memory, the ubiquitous computer chips that store and retain data for digital cameras, cellphones and other gadgets. Toshiba no longer makes laptops, and it has sold its computer chips division.
Toshiba’s fortunes began to crumble over its heavy investment in nuclear power. After the
Toshiba also had massive losses from the nuclear power operations of
In
In 2015, Toshiba acknowledged it had been systematically falsifying its books since 2008, as managers tried to meet overly ambitious targets. An outside investigation found it had inflated profits and hid massive expenses.
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