On March 17 afternoon message, midea group co., LTD. Today's announcement, and Toshiba corporation (hereinafter referred to as the "Toshiba"), to buy the white home appliance business matters to reach a memorandum of understanding of beauty will be buying a controlling stake to Toshiba white goods business. Announcement, the United States and Toshiba group in areas such as compressor, small appliances, inverter, there are more than 20 years of strategic cooperation. The acquisition of Toshiba white goods business, which is beneficial to midea group to carry out the global business strategy.

Through the integration of beauty and Toshiba home appliances business, beauty will be obtained in key markets, including Japan, southeast Asia, the business scale and distribution channels, and in the aspect of patent technology and brand Toshiba's support, thus further promote and consolidate the basis of midea group global operations, improve global competitive power.

Beauty also said that the acquisition of related matters still further negotiations to determine process, is expected to sign a formal agreement by the end of this month.

In addition, the Toshiba company 15 just said in a news release, and found that seven financial fraud, pre-tax profit total about 5.8 billion yen (RMB 300 million), the disposition in prohibited 40 employees. A series of financial fraud led to inflated profit total including 2015 2015 yen, pre-tax totaled 230.6 billion yen.