Connect with us

Hi, what are you looking for?

Capital Business
Capital Business

World

Toshiba to cut costs by $3.5b

TOKYO, May 24 – Japanese electronics giant Toshiba plans to reduce fixed costs 10 percent more than previously announced, a news report said on Sunday.

It will cut costs 330 billion yen (3.5 billion dollars), which should allow it to secure an operating profit of 100 billion yen in the 2009 fiscal year which runs to March 2010, the Nikkei business newspaper said.

Toshiba, which posted an operating loss of 250 billion yen in fiscal 2008, is one of many major Japanese electronics firms that suffered a slump in sales due to the global slowdown.

Sony said Thursday that it would cut its number of suppliers by more than half to reduce procurement costs by 5.3 billion dollars a year.

Hitachi also plans to cut such expenses by 200 billion yen, Nikkei said.

Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...

Headlines

NAIROBI, Kenya, Mar 16 – The World Bank has given the Kenyan government USD 60 Million (Sh6.1 billion) to help combat the deadly coronavirus pandemic...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...