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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Singapore Asia Pacific World Search Search: Toshiba to raise $5 bln: reports AFP - Sunday, April 19 TOKYO (AFP) - - Japan's electronics giant Toshiba Corporation plans to raise around 500 billion yen (five billion dollars) in a bid to reverse its worsening financial situation, news reports said on Saturday. ADVERTISEMENT Toshiba is considering procuring 300 billion yen in capital through a public stock offering, the Nikkei business daily and Kyodo News reported, quoting industry sources. The company will also ask banks and other financial institutions to buy subordinated bonds worth 200 billion yen by September, the sources were quoted as saying. The new capital will be used to improve its semiconductor and nuclear power operations as the company is expected to incur huge losses amid the global economic slump, they said. On Friday, Toshiba announced 3,900 job cuts and predicted a record annual loss of 350 billion yen in the financial year that ended last month, exceeding the 280-billion-yen shortfall it predicted in January. Toshiba, which owns US nuclear-plant maker Westinghouse and is increasingly focused on the energy industry, has said it will cut capital investment to 250 billion yen in the current fiscal year, down 42 percent from the previous year. Email Story IM Story Printable View Blog This Recommend this article 0 users recommend Sign in to recommend this article » Most Recommended Stories » Related Articles: China's Economy Toshiba to raise $5 bln: reportsAFP - Sunday, April 19 China's premier says economy better than expectedAP - Saturday, April 18 Vietnam reduces taxes to push up demand: govtAFP - Saturday, April 18 U.S. closed banks match total for all of 2008Reuters - Saturday, April 18 Related Articles: Business Zurich Financial to buy AIG US unit for $1.9BAP - Friday, April 17 Rosetta Stone shares jump in public debutAP - Friday, April 17 Oil hovers near $50 as recovery doubts lingerAP - Saturday, April 18 Survey: U.S. newspapers shed 5,900 jobs in 2008AP - Friday, April 17 Zurich to buy AIG auto unit for $1.9 billionReuters - Friday, April 17 Enlarge Photo Toshiba to raise $5 bln: reports Related Photos Slideshow Full Photo Coverage: Business & Economy Related Full Coverage China Economy china economy All Full Coverage Most Popular – Business Viewed Bad mood, better recall, researchers find Police nab Norwegian pair during high-speed sex French warship detains pirates, US urges action Harry Potter actor arrested over cannabis find US economy contracts further, remains weak: Fed View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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