:00:00. > :00:00.Now for the latest financial news with Aaron and World Business
:00:00. > :00:32.After months of delays, Japan's battered Toshiba may finally
:00:33. > :00:36.tell us its latest numbers and we're not expecting them to be pretty.
:00:37. > :00:39.We're going to find out if this company will be booted
:00:40. > :00:43.And, Alexa, start the car and turn the radio on.
:00:44. > :00:46.Yep, she's coming to a Ford near you.
:00:47. > :00:49.The American car giant teams up with Amazon and guess what?
:00:50. > :01:09.If you've got eight minutes, stay where you are and I will give you an
:01:10. > :01:15.exciting snapshot of the latest in business and money. Starting with
:01:16. > :01:20.big troubles at Toshiba. The company is expected to publish its result.
:01:21. > :01:25.With the waiting for a long time. The latest numbers will be for the
:01:26. > :01:30.last quarter. This comes after we've been waiting, because they've
:01:31. > :01:33.already been postponed twice. The numbers are expected to be
:01:34. > :01:41.disastrous. Let's have a look. Recently, Toshiba announced its
:01:42. > :01:45.losses... These losses would triple after the result of the difficulties
:01:46. > :01:52.faced by its US division. The US nuclear division has suffered huge
:01:53. > :01:56.costs, in particular at the projects in Georgia and North Carolina.
:01:57. > :02:00.Toshiba told us these numbers would be awful and look what happened with
:02:01. > :02:04.investors! They've sucked their money out of the company had fled.
:02:05. > :02:09.The share price has more than halved and there are fears that Toshiba
:02:10. > :02:15.could be delisted from the main Tokyo Stock Exchange. Certainly if
:02:16. > :02:19.it reports another set of disappointing numbers. The issues
:02:20. > :02:25.faced by Toshiba certainly highlight Japan's problems with what they call
:02:26. > :02:29.the so-called zombie companies. Some experts argue that the central bank
:02:30. > :02:33.in Japan is making it too easy for these Japanese companies to access
:02:34. > :02:39.money and this is providing somewhat of an artificial lifeline to
:02:40. > :02:45.unprofitable businesses. Let's go to Rupert Wingfield-Hayes, in Tokyo.
:02:46. > :02:51.Good to see you. Talk about on tenterhooks! On just wondering, we
:02:52. > :02:58.know the numbers will more than likely be awful. They are waiting
:02:59. > :03:02.until the markets close, because I guess that would be the sensible
:03:03. > :03:08.thing, which is the markets close in about an hour and a half? Yes,
:03:09. > :03:11.that's a distinct possibility, that they could be waiting to make this
:03:12. > :03:19.announcement. As you say, we know it will be really bad. Perhaps $9
:03:20. > :03:24.billion, US, or more. That's for the last nine months of last year. That
:03:25. > :03:32.would be the biggest manufacturing loss in Japanese corporate history.
:03:33. > :03:35.They may be waiting to hold this press conference for after the
:03:36. > :03:39.market so they don't get a sudden shock today. But they really are now
:03:40. > :03:43.at the end of their tether with Toshiba. They've been given two
:03:44. > :03:49.extensions. If it had filed their results today they are likely to be
:03:50. > :03:53.delisted, if they can't get --, with fully audited results within eight
:03:54. > :03:57.days. Sources within the company say they will make some sort of
:03:58. > :04:00.announcement today, but it is rumoured that the results haven't
:04:01. > :04:05.been signed off on by their auditors. So we will then have to
:04:06. > :04:09.see if the stock market will accept those results, or whether they may
:04:10. > :04:15.be delisted if not happy with the fact that these been signed off on
:04:16. > :04:23.by PwC, the auditors. You mentioned corporate history. As an outsider,
:04:24. > :04:29.you've got to step back and look at Japan and ask what has gone wrong,
:04:30. > :04:34.what has happened to all of these wonderful Japanese household names
:04:35. > :04:38.that we used to all use and love. Yes, a really good question. We
:04:39. > :04:43.remember from our childhood, might in the 70s, maybe yours later, that
:04:44. > :04:50.those names were everywhere. Everything was Japanese. Now it
:04:51. > :04:53.isn't. So what has happened? It is a complicated answer to those
:04:54. > :04:58.questions. Some of them perhaps predictable. Structural problems
:04:59. > :05:10.with the companies. But some have literally come out of the blue.
:05:11. > :05:17.These were the greatest brands in consumer goods for decades. Toshiba,
:05:18. > :05:23.Panasonic, Sony, Hitachi. So how did we end up here? First of all the
:05:24. > :05:26.Chinese and Koreans came along and they can make these things just as
:05:27. > :05:33.well but cheaper. Secondly, these Japanese companies lost their mojo
:05:34. > :05:43.and forgot how to innovate. The company did not go on to invent the
:05:44. > :05:48.smartphone. Inside a vast exhibition hall, more than 3000 new recruits
:05:49. > :05:53.are being inducted into one of Japan's big corporations. A lot of
:05:54. > :05:58.these young people can expect to spend the whole of their career in
:05:59. > :06:04.this one company. It will become their second home and they will
:06:05. > :06:10.expect to work hard, law powers, and wait their turn for promotion. It's
:06:11. > :06:16.a model that's worked well for Japan in the past, but it has real
:06:17. > :06:21.problems. It is rigid corporate hierarchy, promotion is based on
:06:22. > :06:28.age, not talent. It's a culture that is resistant to change and bad at
:06:29. > :06:31.producing new ideas. Japan's big corporations realise they have to
:06:32. > :06:38.change to survive. And Toshiba decided to bet on nuclear. In 2006
:06:39. > :06:50.it went out and bought Westinghouse. Five years later, this happened.
:06:51. > :06:56.This is me inside the Fukushima and if you plan to four years ago. This
:06:57. > :07:02.changed everything. Many countries decided they didn't want anything to
:07:03. > :07:08.do with nuclear power. Those that did insisted any new plants must be
:07:09. > :07:11.much safer and because of that they were going to be much more
:07:12. > :07:18.expensive. That's the root of Toshiba's current financial
:07:19. > :07:24.disaster. Toshiba is not alone. Other famous Japanese names have
:07:25. > :07:29.been through deep crises. Last year Sharp was sold to a Taiwanese
:07:30. > :07:31.company. Now Toshiba will be broken up, its best bits sold off to the
:07:32. > :07:40.highest bidder. A fabulous report. Can I tell you,
:07:41. > :07:46.we are all loving that report here! Thank you. Also, the 70s, I was
:07:47. > :07:51.right with you, unfortunately! Thank you. I know you will keep across
:07:52. > :07:55.those numbers. We will see if any more information comes out. Thank
:07:56. > :07:56.you. That was Rupert Wingfield-Hayes, joining us from
:07:57. > :07:58.Tokyo. Be prepared - she's coming
:07:59. > :08:01.to a Ford car near you. Ford has partnered with Amazon
:08:02. > :08:06.to integrate its Alexa voice assistant into its
:08:07. > :08:09.latest line of cars. It includes the ability
:08:10. > :08:29.to remotely start the car, Alexa, asked my Ford Mobile for my
:08:30. > :08:30.tyre pressure. Your vehicle's tyre pressure is not currently showing
:08:31. > :08:51.any warnings. Ask my Ford Mobile to start my car.
:08:52. > :08:56.OK. Say your pin. What's my pin? 5678. Sending start command to your
:08:57. > :09:13.car. The car is just outside, so hopefully... So I tap here? Yes.
:09:14. > :09:21.Alexa, continue reading my audio book. OK, so I can pick up from
:09:22. > :09:31.where I was at home. Alexa, find the nearest coffee shop. Here are a feud
:09:32. > :09:34.nearby shops. We always want to make driving safer, so you should always
:09:35. > :09:39.keep your hands on the wheel, eyes on the road. And for your
:09:40. > :09:43.information and entertainment on the road you can use your voice, which
:09:44. > :09:59.is really the safest way to interact with the car in general.
:10:00. > :10:00.Follow me on Twitter. I'll be back to have