© GETTY IMAGES via BBC News
- conglomerate /kuhn-GLOM-er-it/
- retain /ri-TEYN/
- fallout /FAWL-out/
- overstate /oh-ver-STEYT/
- liquidate /LIK-wi-deyt/
[noun] – a company that owns several smaller businesses whose products or services are usually very different
An American conglomerate plans to purchase the site for a billion dollars.
[verb] – to keep or continue to have something
She lost the right to retain possession of his belongings.
[noun] – the unpleasant results or effects of an action or event
He lost his job as a result of the financial scandal’s fallout.
[verb] – (accounting, business) to report that the amount in the financial statement is more than it should be
Analysts have concluded that the business has been overstating its profits for 10 years.
[verb] – to cause a business to close so that its assets can be sold to pay its debts
They had no choice but to liquidate their smaller businesses.
Toshiba dates back to the 1870s and is one of Japan’s oldest and largest firms with businesses that range from home electronics to nuclear power plants. However, the company has undergone significant reforms in recent years following the fallout of an accounting scandal and substantial losses tied to its US nuclear unit. Hisao Tanaka, Toshiba’s then-chief executive and president, resigned in 2015 after the company admitted to overstating profits by more than $1 billion for six years. It liquidated its crown-jewel memory chip company in 2018 to avoid bankruptcy. The corporate’s decision to split into three firms symbolizes the end of an era, but it also underlines the growing influence of activist investors, who successfully ousted the board’s chairperson in June.
- What do you consider to be the most important new invention in the recent century?
- What new devices or services would you like to have?
- If you were an analyst, would you also be concerned about Toshiba’s timeline? Please elaborate on your answer.
- Do you agree with Atul Goyal’s preferred three-to-six-month schedule of reorganizing the three businesses?
- On what other products or services do you think Toshiba should focus?
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