What image comes to mind when you hear the word “Toshiba”? There was a time when it was a major manufacturer of electrical appliances, but after that the management was tilted and it was also a company that was faced with a number of difficulties. However, Toshiba has been rebuilt and is regaining its brilliance. We will explain what other companies and services should learn from the history of Toshiba’s rise and fall.
Toshiba now raising the signal of revival
Toshiba is one of Japan’s leading technology companies. After rebuilding from the former scandal, it is reviving. The profit for the April-June period announced in August 2022 improved significantly from 18.0 billion yen in the previous year to 25.9 billion yen as a result of earnest efforts to rebuild management.
The general public has a strong image of Toshiba as a manufacturer of white goods, but its current business is driven by clean energy, infrastructure projects, data services, devices and storage. We aim to further increase sales by actively promoting these businesses. In addition, the profitability of electronic devices and digital solutions improved, and demand from the automotive sector was strong.
Toshiba researches privatization while proceeding with the reconstruction plan. Businesses that match the times have begun to stand out, and the results are gradually appearing.
The former Toshiba and its many predicaments
Founded in 1875 was attracting attention from all over the world as a Japanese brand known for its air conditioners, electric rice cookers and laptops. However, business deteriorated after that, and it fell to the point of selling its proud flash memory business.
Toshiba has been in trouble since the Fukushima nuclear accident in March 2011. The tsunami causes three nuclear reactors to melt down, spewing radiation into the air. The area is still a no-go zone. Toshiba is involved in decommissioning work that will take decades.
It was further tarnished in 2015 by an accounting scandal involving years of falsified books. In 2017, it was also embroiled in the problems of former U.S. nuclear power unit Westinghouse Electric, which had filed for bankruptcy protection.
Exposed to many hardships, Toshiba has fallen from the position of the top brand.
Importance of change regardless of existing business, form
First-class brand Toshiba that has collapsed once. However, this is now changing due to reconstruction. The key to this is “change with the times”. The pillar of clean energy is the current global trend. It is a core business in each country, mainly in Europe. In addition, the data service and storage businesses are core businesses that generate large profits for Google, Amazon, and Microsoft, and there is still room for growth. In this way, it is necessary not to be satisfied with existing businesses just because they are doing well, but to think about what kind of services will be suitable for the next era, sow new seeds, and devise ways to continue to grow new businesses.
The same is true for other companies and online services. For example, casinos have evolved from brick-and-mortar to online casinos along with the development of the Internet and smartphones. Moreover M88 Bonus Payment methods are also evolving. The number of online casinos that accept not only credit cards and bank transfers, but also virtual currencies is increasing. In this way, changing services to meet the needs of the times is the essence of business prosperity, which can be said to be common to all industries.
Look 10 years ahead of the times and move
Sales in front of you are important to keep your business going. However, Facebook, for example, has a concrete image of what the company will look like in 3, 5, and 10 years, and is promoting its business. By sowing the seeds of change as early as possible, we can be one or two steps ahead of our rivals. In addition, we live in an era in which individuals are required to plan their lives with an eye toward the future, as to what kind of career they want to achieve. Let’s continue to explore the secrets to the longevity of companies and individuals while referring to Toshiba’s past, present, and future movements.