Japanese technology conglomerate Toshiba broke silence on rumors of a sale and issued an open letter. [PDF] Management told shareholders that nothing had been decided.
The business is considering an offer to go private after a group of investors are fed up with ongoing scandals that have damaged its performance and brand. In July 2022, it announced a shortlist of potential buyers that included Bain, Japan Industrial Partners (JIP), Brookfield Asset Management and CVC Capital Partners.
Reuters recently reported JIP as a leader in deals worth $16 billion.
Nikkei reported that JIP took out about $8.8 billion in loans to carry out the deed.
Toshiba’s board of directors, who had been pledging silence on the matter for months, said they were “not in a position to verify the veracity” of the aforementioned report.
The letter explained that the management team engaged with all potential partners, provided financial, legal, tax and regulatory disclosures, and that a special committee overseeing the process met almost weekly.
“While we are not sure about the completion of the contract with the potential partner, we plan to accept a binding and bona fide offer and will do our best to reach a conclusion as soon as possible. Negotiations are necessary,” said the representative of the scandal-ridden Japanese giant. they wrote
The letter read: “Whether or not we agree, we promise to announce the details to the public without delay once a final decision has been reached by the board.”
FTX “There is a possibility of selling ops in Japan and Singapore”
Managers of collapsed cryptocurrency exchange FTX have signaled that they will put their Japanese and Singapore businesses up for sale. Because they can be liquid and viable businesses.
According to a petition filed last week in the U.S. bankruptcy court for the state of Delaware, the initial work has begun to make sense of FTX’s reckless operation and hopes that funds can be returned to retail investors and customers. A client with over $8 billion in funds has disappeared into FTX’s maze of secretive and highly unethical internal lending.
The petition states that “debtors believe that many of these companies have solvency balance sheets, independent management and valuable franchises” among assets that could be valuable if buyers can be found: FTX Japan and FTX Singapore. nominated.
FTX’s Singapore location has not yet secured a license, but has been granted an exception to do business without a license. On Saturday, FTX Japan detailed its ongoing efforts to restore the platform and promised that by the end of the year it would provide customers with “a detailed timeline and roadmap of how and when customers can resume withdrawal and delivery services.”
That advice could be set as a timeline for funds to flow in, as the company has been suspended by Japanese authorities until March 9, 2023.
– Simon Shoud
Australia fines cryptocurrency exchange Binance for spamming…
The Australian Communications and Media Authority (ACMA) fined cryptocurrency firm Binance AU$2,000,220 ($1.35 million) for sending more than 5.7 million commercial emails. There is no way to cancel your subscription.”
25 emails were sent without the recipient’s consent.
ACMA Chairman Nerida O’Loughlin said authorities had “contacted Binance Australia on several occasions prior to the investigation, warning them that there may be compliance issues and that they have failed to take appropriate action.”
Cryptocurrency companies with no basic controls and laughing at regulators? where did you hear that before? Oh… seemingly all of them are at some point.
Binance’s Australian branch has signed a three-year enforceable agreement. This means committing to an independent review of e-marketing practices and implementation of improvements. Companies are also required to train their employees and report to ACMA as per the agreement.
– Simon Shoud
Alibaba Cloud Provides Blockchain Nodes
Last week, Alibaba Cloud announced that it would launch its blockchain-as-a-service node in the first quarter of 2023.
The platform provides automatic failover to provide resiliency. Alibaba Cloud has expanded its line of infrastructure technology and intelligence tools to the Avalanche Public Blockchain (AVAX).
This means that users can launch validator nodes through node services and access compute, storage, and distribution resources through Alibaba Cloud’s suite of products in Asia.
The Chinese government strongly opposes cryptocurrencies, but encourages the use of blockchain. Alibaba’s move and large presence outside of China thus suggests that blockchain is projected across borders with nodes hosted in a consistent cloud environment.
– Simon Shoud
AWS mainframe modernization is coming to Asia
Amazon Web Services announced last week that its mainframe modernization service, launched in June 2022 and providing tools to bring apps from mainframes to the AWS Cloud, is now available in three Asian regions.
The Asia Pacific (Mumbai), Asia Pacific (Singapore), and Asia Pacific (Tokyo) regions all host the service and will also have the consulting expertise to help customers use the service. Infosys is one of AWS’ global partners already providing services. AWS also seeks to grow a community of local partners who can provide services for our products in general.
India does not limit children’s game time
India’s Minister of Electronics and Information Technology has said there are no plans to limit the amount of time young people can play video games, as imposed by China.
In a written response to parliamentary questions, Minister Rajeev Chandrasekhar acknowledged that Indians are more likely to be exposed to content depicting violence and was aware of the risks, including addiction and the subsequent financial loss to individuals. He added that current regulations place intermediaries (an Indian term for online platforms and telecommunications companies) a responsibility to ensure they do not harm children.
In August, China introduced a rule limiting online gaming time for children under the age of 18 to three hours per week, up to one hour per day.
A new Sony sensor factory will reportedly enter Kumamoto Prefecture, Japan
Sony is reportedly considering building a smartphone image sensor factory near the Taiwan Semiconductor Manufacturing Co. (TSMC) facility in Kumamoto, Japan.
The plant is expected to be operational by 2024 at the earliest.
Japan Space Agency JAXA Grants Logo License
register Every day you see someone wearing a NASA logo. Now, the Japan Aerospace Exploration Agency (JAXA) has licensed the logo and has detailed plans to feature it on all kinds of kits.
Friday’s announcement explains that “JAXA LABEL COLLAB” will be licensed for use “primarily in products from collaborative research.” Another brand, “JAXA LABEL TECH”, will deal with “products developed using JAXA’s patented technology and technology”.
“JAXA LABEL DESIGN” is reserved for “products developed utilizing designs and materials for intellectual property rights owned by JAXA”.
“In the near future you will be able to find a variety of items bearing the JAXA LABEL logo in stores near your home,” the announcement said.
– Simon Shoud
In other news…
Local reports last week included the news that China has abandoned its COVID-19 tracking app as it seeks to shift away from its zero-COVID strategy.
According to Russian state media, another new ban from Beijing bans the export of chips using the Loongson architecture designed domestically.
Beijing has also launched a campaign to crack down on the most annoying of smartphone apps, including copycat apps, pop-ups, bloatware and other annoyances.
Six solar images were released by the National Space Science Center of China. This image was captured by the US Advanced Space-Based Solar Observatory (ASO-S), called Kuafu-1.
Citrix has patched a critical ADC flaw that the NSA says is already under attack from China.
The US added 36 Chinese companies, including YMTC, to its corporate list and removed 25 from its unverified list. Nine were added to the unconfirmed list for ties to Russia.
And China’s Cyberspace Administration has issued guidelines on deepfakes, which prohibit creation without the subject’s permission or against national interests.
Vietnam’s internet turned 25 almost simultaneously with platforms like YouTube and Facebook cracking down on online advertising, which is responsible for content generating ad revenue.
Japanese startup ispace’s HAKUTO-R Mission 1 has been launched into space aboard a Falcon 9. ®.