Toshiba Corp said on Monday it would book a record net loss this year and cut around 5 percent of its workforce as the sprawling conglomerate, reeling from a $1.3 billion accounting scandal, focuses on chips and nuclear energy.
But analysts question whether streamlining can return the 140-year-old Japanese bulwark to dominance considering falling profit margins in the chip industry and a nuclear phase-out in developed countries since the 2011 Fukushima disaster.
The change in fortune at Toshiba, whose former executives have led Japan’s business lobby and advised governments, comes as the company’s shares languish at 40 percent below their value in April when management first disclosed accounting problems.
Toshiba later said it over…
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