toshiba came up with the original plan in november.f the firm into three independent companies. a revision three months later recommended a two-way split. toshiba management is expected to reexamine its corporate strategies. some share holders believe it should consider becoming an unlisted company by buying back its shares in the market from investors. >>> and the invasion of ukraine has entered its second month and more japanese firms are distancing themselves from russia. tire manufacturer yokohama rubber will suspend production in russia for the time being. bridgestone has already done so. due to the difficulty in securing natural rubber and other materials in russia. japan tobacco has stopped all new investments and advertising in russia, which is one of its major markets. it's also considering takingts four factories in the cntry offline. mitsubishi motors wants to stock up on the rare metal palladium from other sources. the material is is crucial in reducing car exhaust. russia is a lding producer. japanese companies are also sh

toshiba has said that nothing has been decided.ing that it hasn't made any decision to consider privatization according to the spokesman. saying they are considering all strategic options to boost corporate value and to rebuild chill holder trust. toshiba shareholders rejected the plan by management to split the conglomerate into two companies. they voted down the proposal by an activist investor to reconsider alternative options including a sale. we saw adrs rising as much as 12%. we are seeing a have to gain so far in the trading session. 3.5% higher. softbank is on watch. trading lower today after reports that it was seeking a valuation at least $60 billion for one of the business growth. they are aiming for a higher amount than it would've gotten from that failed sale of the chipmaker to nvidia. we are hearing that softbank is poised to pick goldman to lead a loan transaction ahead of a planned ipo offering. we are also, in terms of the analysis of this, it's a gambit for softbank. more than 60 billion. it would mean having to

toshiba had wanted to spin off the semiconductor unit to help improve corporate value.so pledged to sell three subsidiaries to return 2 1/2 billion dollars to shareholders but activists investors who hold a major stakepposedhelan toshiba says the voting result is not legally binding. still the outcome is a setback, many shareholders side with the activist investors. they have been at odds with management over which direction the company should take. >>> and the moscow stock market has resumed trading. operations had been suspended for nearly a month in the wake of russia's invasion of ukraine. trading got underway from 9:50 a.m. and ends at 2:00 p.m. local time. 33 stocks are changing hands. they include the country's largest lender, spare bank, government banked gas provider, gas prom, and investors are banned from short sellg. this involves investors borrowing shares andelling them on the market while planning to buy them back later at lower prices. >>> and the european union is moving to reduce its reliance on russian energy sources as prices soar. it has proposed re

toshiba in tokyo.aming higher, up by the most in 10 months, off the back of news emerging that the vice president of the country has resigned. we also right now have -- being appointed as president of the company. the president himself resigning. so this is taking place. more on this as toshiba briefs the media at 3:00 p.m. japanese time, 2:00 p.m. hong kong and singapore time. this just coming through, as we have a lot of consternation in this company regarding a review of its plan. reports, new management, an intra manager reviewing the proposal to divide toshiba into two companies. toshiba share price up nearly 5% here. haslinda: that's right. it's expected to brief the media at 3:00 p.m. local time. dr. the markets, seeing massive gyrations, especially in commodities as well. let's discuss the impact of russia's invasion of ukraine on commodities. joining us is wayne gordon, executive director of commodities at ubs global wealth management. wayne, always good to have you with us. talk to us about t

toshiba's largest shareholder has agreed to tender. it said it would tender its entire 9.9% stake if it was offered to acquire two thirds or more of toshiba. this is reunited -- reignited speculations. nothing has been decided. volkswagen has chosen american banks including goldman sachs and bank of america for its porsche ipo. j.p. morgan chase and citigroup are also among the coordinators which could value it at up to $100 billion. the listing is planned for the fourth quarter and would provide volkswagen for funds for its push into electric cars. >> the u.k. withdrawing in order to plug wells. it's >> coming up in the next hour, how democracies can push back against authoritarian rule. plus why a management company is positive on japanese equities and heard them to outperform the u.s. and europe over the next six months. that's it for "daybreak: australia." "daybreak asia." is next. this is bloomberg. ♪ if you're a small business, there are lots of choices when it comes to your internet and technology needs. but when you choose comc

the potential sale of toshiba's elevator business is said to have attracted interest.are told the elevator business could fetch about $4 billion. and a package of subsidies for its planned expansion in michigan. the battery maker will get 56.5 million dollars in incentives and a premier tax break worth more than $130 million according to a public memo. lg is planning to build several new facilities to boost the plant's capacity. tesla's market cap back about the $1 trillion mark after shares rose for a sixth straight session. the facility will boost tesla's capacity to make electric suv's with an eye on europe's expanding ev market. >> this is a great day for the factory and, you know, i would just like to thank everyone who helped. thank you. thank you very much. it really made a very big difference, and to the community , i mean, tesla will make sure that this is a gem -- you know, a gemstone for the area, for germany, for europe, and for the world. rishaad: let's check in with markets. we are seeing the nikkei up 2.7%. it is perhaps down to this sinking yen story, b

haidi: a check of the latest headlines, toshiba's largest shareholder has agreed to tender its stock.anagement company said it will tender its entire stake if bain offered to acquire more of toshiba. it has led to speculation of a future takeover but the bank says nothing has been decided. stock shares surge in late trade after gamestop announced a stock split in the form of a dividend. it will seek shareholder approval. it says the split will provide flexibility for future corporate names. western shanghai goes into lockdown for four days, restrictions easing in the east. we g vonnie: this is "bloomberg daybreak: asia." oil drilling around $100 a barrel after president by an order to release roughly one million barrels a day to contain rising energy costs and its reliance on foreign energy suppliers. biden also criticized u.s. oil company set have a reluctant to increase production and said he is hoping other countries will supply. pres. biden: i am also waiting to see or not our allies, exactly how many barrels they release from their supplies. my guess is it could be aside as betwe

of course, watching toshiba, up by 2%.the factory on the same side as the gig economy facility. they will start construction in april, hoping to finish sometime in the next year as well. kathleen: quite a move. let's move on to evergrande now. another big story surfacing. it ensures investors it's on track to provide creditors with a restructuring plan by the end of july. urging patients during a call with investors tuesday evening. let's get details now from china credit editor rebecca june wilkins who's been following this story very closely for some time. what can you tell us about the investor call? rebecca: there wasn't much fresh information on the call. it was aimed at reassuring them that they are on track. they are going to make these deadlines that they set out for themselves for the per luminary restructuring proposal. they asked creditors not to take aggressive action in the meantime so they could proceed with their holistic plan to treat all creditors fairly. stressing how many institutions individual investor

toshiba is weighing plans to take itself private.ompany is in talks with financial institutions for a buyout proposal that would be led by domestic investors. that's after shareholders rejected a plan to split the conglomerate into two companies. philip morris is exercising options to exit the russian market. it has already reduced manufacturing operations and canceled product launches in the country. daybreak asia is next. this is bloomberg. ♪ if you're a small business, there are lots of choices when it comes to your internet and technology needs. but when you choose comcast business internet, you choose the largest, fastest reliable network. you choose advanced security for total peace of mind. and you choose fiber solutions with speeds up to 10 gigs to the most small businesses. that's virtually everywhere we serve. the choice is clear: make your business future ready with the network from the most innovative company. comcast business. powering possibilities™. haidi: a very good morning. we are coming down to asia's major market

toshiba weighing plans to take itself private.is in talks to draft a buyout proposal that would be led by domestic investors, reportedly, coming after they rejected the proposal to split it into two companies. a spokesman said it is considering options and no decision has been made as of yet. apple is working on a subscription service for iphones and other hardware products, a move that could make device ownership similar to paying a monthly app the. they say the new service would be the biggest push into automatically recurring sales, allowing users to subscribe to hardware for the first time come and also helping apple generate more revenue. >> let's check in on markets. pretty subdued on the index to round out the trading week, after that drop yesterday. you are seeing continued upside in singapore, reopening stocks, covid policy, australia looking good, the china index off, and the rebound in the yen, after the six-year low, talking about governor kuroda saying the market has not lost faith in the yen, but talking as well abou

over and japan, after toshiba ceo resigned tuesday, his replacement wants to move forward with a plant the company into -- in two despite opposition from investors. domestic output was halted following a cyberattack on one of its parts suppliers. and plans to further ease order controls and exclude them from the 5000 person per day cap, prime minister kish era could announce the move -- kishira could announce the move as early as wednesday. haidi: a partial lockdown on the covid testing exercise. this continues to grapple with the outbreak of the pandemic so far. the fatality rate is among the highest in the developed world. let's bring in bloomberg managing editor for asian global business. if these reports and up being confirmed, what does a four-they lockdown realistically going to do? what are they going to try to do during that period? >> a lot of reports, bits and pieces of information coming out about what hong kong is planning to do. as far as we understand, they are still considering and mulling it over. they will do compulsory mass testing push. 7.4 million people -- whether