As part of the company's rebuilding plan, Toshiba has made a symbolic decision to withdraw its giant LED billboard from Times Square in New York City in the first half of next year. Toshiba aims to cut costs. Since December 2007, Toshiba’s giant LED billboards have been hanging at the top of the Times Square building in New York City.
Toshiba splendidly, revenue has set a record. But now, Toshiba is trying to fill its financial loopholes. Toshiba also decided to no longer sponsor the New Year countdown to Times Square. Toshiba has been a sponsor of the New Year countdown event in Times Square since 2009.
Legend: Toshiba Times Square billboard
In addition, according to the "Japan Times" report, Toshiba also formally decided to terminate the sponsorship agreement with two long-established Japanese television programs at the end of March next year. The two TV shows are the popular cartoon "Sazae-san" and a Sunday evening show.
Toshiba is taking steps to streamline the company's business to improve its financial position and make up for the huge losses of US nuclear company Westinghouse. Before Japan and the United States cut their advertising expenditures, Toshiba sold its home appliances business to China America's group last year and recently sold its television business to Hisense Electric. In September of this year, Toshiba also sold its lucrative storage chip unit to a consortium led by Bain Capital.
On Sunday, Toshiba’s board of directors approved a new share issuance plan that plans to raise 600 billion yen (about 5.3 billion U.S. dollars) to avoid withdrawal from the Tokyo Stock Exchange.
Automotive Staple,Automotive Industrial Staple,Moistureproof Automotive Staple,Hog Ring Blunt Galvanized Nail
Zhejiang Best Nail Industrial Co., Ltd. , https://www.beststaple.com