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January 15, 2014
06:19 EDTTOSBFToshiba to take 60% share in NuGen Moorside Project in the UK
Toshiba announced that it has reached agreements with GDF SUEZ of France and Iberdrola of Spain to take a 60% stake in NuGeneration Limited, the UK-based nuclear energy company which plans to develop nuclear power plants at the Moorside site in West Cumbria, Northwest England. As the majority owner of NuGen, Toshiba, in collaboration with its group company, Westinghouse Electric Company, intends to move forward with the construction of three AP1000 nuclear reactors on the Moorside site, in partnership with GDF SUEZ, a leading European nuclear operator. Under an agreement with Iberdrola dated December 21, 2013, Toshiba will purchase all of Iberdrolaís indirect 50% holding in the project. Under a separate agreement reached in January 2014 with GDF SUEZ, Toshiba will purchase a further 10% holding in the project giving Toshiba a 60% stake in NuGen. The provisional total purchase price of 102 million pounds sterling is subject to adjustment, as is customary in such major transactions, while final agreements are subject to obtaining the relevant authorisations and consents and other required processes. Toshiba aims to complete the overall transaction within the first half of calendar year 2014. NuGenís Moorside project focuses on the development of a new generation nuclear power station and represents a major investment in the future, and in supporting the UK to meet the challenges of securing a stable, affordable, future energy supply and cutting CO2 emissions. The three AP1000 units to be built on the site, developed by Westinghouse, will have a combined capacity of 3.4 gigawatts. Building on this major development, Toshiba and Westinghouse will seek further opportunities to build AP1000 reactors in Europe and other key geographies.
News For TOSBF From The Last 14 Days
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July 28, 2015
13:23 EDTTOSBFMore Toshiba executives expected to resign over accounting scandal, Nikkei says
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July 27, 2015
06:39 EDTTOSBFToshiba develops new process technologies for MCUs, wireless ICs, DigiTimes says
Toshiba announced the development of 2 new process technologies for low-cost applications such as microcontrollers, wireless communication ICs, motor controller drivers and power supply ICs, reports DigiTimes. In response to strong demand for low power consumption in areas using wearable and healthcare-related equipment, Toshiba adopted SST's third-generation SuperFlash cell technology, in combination with its own 65nm logic process technology. Reference Link
July 22, 2015
17:21 EDTTOSBFSanDisk does not expect Toshiba announcement to impact financial results
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July 21, 2015
05:46 EDTTOSBFToshiba CEO Hisao Tanaka resigns following accounting scandal, BBC reports
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July 20, 2015
11:30 EDTTOSBFToshiba to restate past profits by at least Y151.8B after probe
Toshiba provided notice earlier that it received the investigation report from its independent investigation committee and reported that it must correct at least Y151.8B of pretax earnings over a period from fiscal year 2008 to fiscal year 2014 through the third quarter. The company will review fiscal 2014 earnings with auditors and submit its result by the end of August, the company noted. Reference Link
July 19, 2015
18:22 EDTTOSBFJapanese regulator to pursue penalty for Toshiba, Nikkei says
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July 17, 2015
06:12 EDTTOSBFToshiba executives involved in improper accounting, probe finds, Reuters reports
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