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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (63179)	4/25/2002 2:00:37 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Toshiba's Okamura Must Find New Businesses After Quitting DRAMs By Minoru Matsutani quote.bloomberg.com Tokyo, April 25 (Bloomberg) -- The fact that Tadashi Okamura wasn't involved in making Toshiba Corp. the world's biggest memory- chip maker a decade ago may explain why he was brave enough to scrap the business last year as it slid deeper into losses. Investors say Okamura's 40 years of experience marketing factory-automation equipment may not help much in his next big challenge -- finding new sources of revenue. Toshiba needs to regain its competitive edge in the semiconductor industry with new chips, become a leading brand in digital consumer electronics and reverse a decline in finances that's seen its credit rating slip, they say. ``Not knowing about chips made Okamura a messiah -- he's really trying to reform,'' said Hiroyoshi Nakagawa, chief investment officer at SG Yamaichi Asset Management Co., which holds $21 billion in assets including Toshiba shares. His bigger challenge, he adds, ``is to show investors how Toshiba can come up with strong products.'' He will have the opportunity to demonstrate that as Toshiba announces results for the past fiscal year. Toshiba later today will say its group loss was probably 66 billion yen ($506 million) in the three months ended March 31, compared with 31 billion yen net income a year earlier, according to the average estimate of four analysts surveyed by Bloomberg News. Toshiba's memory-chip unit probably had a $1 billion loss in the fiscal year.