Toshiba sells medical device business to Canon
According to Japanese media reports, Canon is likely to be the final winner in the battle for Toshiba's medical device business. According to the "Nikkei Business News" website, Toshiba decided to sell the medical equipment subsidiary "Toshiba Medical System" to Canon at the board meeting on March 9. One of the important factors for Toshiba to make this decision is that Canon has proposed a price of about 700 billion yen (about 40.5 billion yuan), and it has less overlap with its own business, and it is easier to pass anti-monopoly review. Can smoothly promote the sale and other procedures. Japan’s Kyodo News said that Toshiba will give Canon priority in negotiating and advance the sale process with detailed conditions. Toshiba, which has obtained huge amounts of money through the sale, will accelerate its business reconstruction by investing in growth business and financial improvements. The sale of medical device business is an important step in the strategic restructuring of Toshiba, which is deeply involved in accounting scandals. In July last year, Toshiba was shocked by the Japanese business community by falsely reporting that operating profits were caught in accounting scandals. The third-party investigation committee hired by Toshiba issued a full report saying that in the five years ended March 2014, Toshiba reported a profit of 151.8 billion yen. Statistics show that Toshiba's net loss for the fiscal year 2015 is expected to reach 710 billion yen. In order to survive, Toshiba announced a "disintegration reconstruction", a total of 10,600 layoffs, accounting for 1/4 of the total number of employees, while divesting the business sector according to future development needs. Toshiba Medical Systems is principally engaged in the manufacture and sale of medical devices such as magnetic resonance imaging (MRI) and X-ray inspection instruments. Toshiba Medical Systems has strong technology and a solid customer base, and the expansion of the market is considered to be very secure, thus attracting the attention of many companies. In January of this year, Toshiba held the first round of bidding for the medical device business. Japan’s Kyodo News reported that there were about 10 bids from Canon, Fujifilm Holdings, a joint venture between Mitsui & Co., and the US Investment Fund, and a consortium of Konica Minolta and the UK Investment Fund. Toshiba’s second round of bidding deadline is March 5, and there are three bidders, including Canon, Fujifilm, Konica Minolta and the UK Investment Fund. According to an article in the Nihon Keizai Shimbun, there are predictions that the global medical device market will exceed 50 trillion yen in 2018. Fish Collagen,Fish Collagen Powder,Fish Collagen Granules,Cod Skin Collagen Ningbo Nutrition Food Technology Co.,ltd. , https://www.collagenworkshop.com