, Columnist
Toshiba's Slide Into Obscurity
The Japanese technology giant can expect more retail investors and increased stock volatility if relegated to the second section.
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In a country where government bailouts are common and with an alluring semiconductor unit that could net billions, Toshiba Corp. will probably stay in business even as it reels from record losses and the bankruptcy of its Westinghouse Electric nuclear energy unit.
But a more pressing worry for investors is that with negative shareholder equity of 225.7 billion yen ($2.1 billion) for the third quarter, one of Japan Inc.'s fastest-fading stars is headed straight for another demotion -- out of blue-chip status and into a much less liquid section of the Tokyo Stock Exchange. It's going to be goodbye BlackRock Inc., and hello Mrs. Watanabe.