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156-539: Toshiba Corporation ( 株式会社東芝 , Kabushikigaisha Tōshiba , English: / t ə ˈ ʃ iː b ə , t ɒ -, t oʊ -/ ) is a Japanese multinational electronics company headquartered in Minato, Tokyo . Its diversified products and services include power, industrial and social infrastructure systems, elevators and escalators, electronic components, semiconductors , hard disk drives , printers, batteries, lighting, as well as IT solutions such as quantum cryptography . It

312-414: A differential gear to twin contra-rotating propellers. If one drum was rotated faster than the other, then the rudder was activated. The other ends of the wires were connected to steam-powered winding engines, which were arranged so that speeds could be varied within fine limits, giving sensitive steering control for the torpedo. The torpedo attained a speed of 20 knots (37 km/h; 23 mph) using

468-414: A fish . The term torpedo originally applied to a variety of devices, most of which would today be called mines . From about 1900, torpedo has been used strictly to designate a self-propelled underwater explosive device. While the 19th-century battleship had evolved primarily with a view to engagements between armored warships with large-caliber guns , the invention and refinement of torpedoes from

624-766: A basis in a national ethos , being ultimate without a specific nationhood, and that this lack of an ethos appears in their ways of operating as they enter into contracts with countries that have low human rights or environmental standards . In the world economy facilitated by multinational corporations, capital will increasingly be able to play workers, communities, and nations off against one another as they demand tax, regulation and wage concessions while threatening to move. In other words, increased mobility of multinational corporations benefits capital while workers and communities lose. Some negative outcomes generated by multinational corporations include increased inequality , unemployment , and wage stagnation . Raymond Vernon presents

780-431: A batch of 50 as torpedo production at home and Rijeka could not meet demand. By World War I, Whitehead's torpedo remained a worldwide success, and his company was able to maintain a monopoly on torpedo production. By that point, his torpedo had grown to a diameter of 18 inches with a maximum speed of 30.5 knots (56.5 km/h; 35.1 mph) with a warhead weighing 170 pounds (77 kg). Whitehead faced competition from

936-520: A brand of Toshiba. In March 2014, Toshiba sued SK Hynix , accusing the company of stealing technology of its NAND flash memory. In the late same year, the two companies settled with a deal in which SK Hynix pays US$ 278 million to Toshiba. Toshiba had sued Hynix in the early 2000s for patent infringement . In October 2014, Toshiba and United Technologies agreed a deal to expand their joint venture outside Japan . Toshiba first announced in May 2015 that it

1092-1059: A contract with Orion Electric , one of the world's largest OEM consumer video electronic makers and suppliers, to manufacture and supply finished consumer TV and video products for Toshiba to meet the increasing demand for the North American market. The contract ended in 2008, ending seven years of OEM production with Orion. In December 2004, Toshiba quietly announced it would discontinue manufacturing traditional in-house cathode-ray tube (CRT) televisions. In 2005, Matsushita Toshiba Picture Display Co. Ltd. (a joint venture between Panasonic and Toshiba created in 2002) stopped production of CRTs at its factory in Horseheads, New York. A year later, in 2006, it stopped production at its Malaysian factory, following heavy losses. In 2006, Toshiba terminated sales of CRT TVs in Japan and production of in-house plasma TVs. To ensure its future competitiveness in

1248-508: A corporation invests in a country in which it is not domiciled, it is called foreign direct investment (FDI). Countries may place restrictions on direct investment; for example, China has historically required partnerships with local firms or special approval for certain types of investments by foreigners, although some of these restrictions were eased in 2019. Similarly, the United States Committee on Foreign Investment in

1404-645: A demonstration in late 1869, and in 1870 a batch of torpedoes was ordered. In 1871, the British Admiralty paid Whitehead £ 15,000 for certain of his developments and production started at the Royal Laboratories in Woolwich the following year. In the 1880s, a British committee, informed by hydrodynamicist Dr. R. E. Froude , conducted comparative tests and determined that a blunt nose, contrary to prior assumptions, did not hinder speed: in fact,

1560-608: A depth just beneath the ship, relying on a magnetic exploder to activate at the appropriate time. Germany, Britain, and the U.S. independently devised ways to do this; German and American torpedoes, however, suffered problems with their depth-keeping mechanisms, coupled with faults in magnetic pistols shared by all designs. Inadequate testing had failed to reveal the effect of the Earth's magnetic field on ships and exploder mechanisms, which resulted in premature detonation. The Kriegsmarine and Royal Navy promptly identified and eliminated

1716-529: A factory at St Tropez in 1890 that exported torpedoes to Brazil, The Netherlands, Turkey, and Greece. Whitehead purchased rights to the gyroscope of Ludwig Obry in 1888 but it was not sufficiently accurate, so in 1890 he purchased a better design to improve control of his designs, which came to be called the "Devil's Device". The firm of L. Schwartzkopff in Germany also produced torpedoes and exported them to Russia, Japan, and Spain. In 1885, Britain ordered

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1872-731: A follow-up attack in October, produced several explosions but no significant damage and the weapon was abandoned. Fulton carried out a demonstration for the US government on 20 July 1807, destroying a vessel in New York's harbor. Further development languished as Fulton focused on his "steam-boat matters". After the War of 1812 broke out, the Royal Navy established a blockade of the East Coast of

2028-429: A free market system where there is little government interference. As a result, international wealth is maximized with free exchange of goods and services. To many economic liberals, multinational corporations are the vanguard of the liberal order. They are the embodiment par excellence of the liberal ideal of an interdependent world economy. They have taken the integration of national economies beyond trade and money to

2184-437: A long history and sprawling businesses, Toshiba is a household name in Japan and has long been viewed as a symbol of the country's technological prowess post- World War II . As a semiconductor company and the inventor of flash memory , Toshiba had been one of the top 10 in the chip industry until its flash memory unit was spun off as Kioxia in the late 2010s. The company was also relevant in consumer personal computers, releasing

2340-469: A military scientist for the Mamluk Sultanate of Egypt – wrote that it might be possible to create a projectile resembling "an egg", which propelled itself through water, whilst carrying "fire". In modern language, a "torpedo" is an underwater self-propelled explosive, but historically, the term also applied to primitive naval mines and spar torpedoes . These were used on an ad hoc basis during

2496-490: A million troops to help, and by February 1991, Iraqi forces were expelled from Kuwait. Due to the oil boycott from Kuwait and Iran, oil prices rose and quickly recovered. Saudi Arabia once again led OPEC, and thanks to assistance in defending Kuwait, new relations emerged between the USA and OPEC. Operation "Desert Storm" brought mutual dependence among the main oil producers. OPEC continued to influence global oil prices but recognized

2652-462: A night-time approach so that the target ship would be less able to defend itself. Fiske determined that the notional torpedo bomber should descend rapidly in a sharp spiral to evade enemy guns, then when about 10 to 20 feet (3 to 6 m) above the water the aircraft would straighten its flight long enough to line up with the torpedo's intended path. The aircraft would release the torpedo at a distance of 1,500 to 2,000 yards (1,400 to 1,800 m) from

2808-478: A pair of 24.5-inch torpedoes from her port-side tube and claimed one hit. According to Ludovic Kennedy , "if true, [this is] the only instance in history of one battleship torpedoing another". The Royal Navy continued the development of oxygen-enriched air torpedoes with the 21 in. Mk. VII of the 1920s designed for the County-class cruisers although once again these were converted to run on normal air at

2964-594: A production facility at the Royal Naval Torpedo Factory, Greenock , in 1910. These are now closed. Whitehead opened a new factory adjacent to Portland Harbour , England, in 1890, which continued making torpedoes until the end of World War II . Because orders from the RN were not as large as expected, torpedoes were mostly exported. A series of devices was produced at Rijeka, with diameters from 14 in (36 cm) upward. The largest Whitehead torpedo

3120-636: A radio guidance system for Allied torpedoes, it intended to use frequency-hopping technology to defeat the threat of jamming by the Axis powers . As radio guidance had been abandoned some years earlier, it was not pursued. Although the US Navy never adopted the technology, it did, in the 1960s, investigate various spread-spectrum techniques. Spread-spectrum techniques are incorporated into Bluetooth technology and are similar to methods used in legacy versions of Wi-Fi . This work led to their induction into

3276-789: A separate business, to save Toshiba from bankruptcy. In February 2017, Toshiba revealed unaudited details of a 390 billion yen ($ 3.4 billion) corporate wide loss, mainly arising from its majority owned US based Westinghouse nuclear construction subsidiary which was written down by 712 billion yen ($ 6.3 billion). On 14 February 2017, Toshiba delayed filing financial results, and chairman Shigenori Shiga, formerly chairman of Westinghouse, resigned. Construction delays, regulatory changes and cost overruns at Westinghouse-built nuclear facilities Vogtle units 3 and 4 in Waynesboro, Georgia and VC Summer units 2 and 3 in South Carolina, were cited as

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3432-639: A subsidiary of Toshiba and the Norwegian company Kongsberg Vaapenfabrikk . The incident strained relations between the United States and Japan , and resulted in the arrest and prosecution of two senior executives, as well as the imposition of sanctions on the company by both countries. Senator John Heinz of Pennsylvania said "What Toshiba and Kongsberg did was ransom the security of the United States for $ 517 million." In 2001, Toshiba signed

3588-542: A success against an Austrian-Hungarian squadron , sinking the battleship SMS  Szent István with two torpedoes. The Royal Navy had been experimenting with ways to further increase the range of torpedoes during World War 1 using pure oxygen instead of compressed air, this work ultimately leading to the development of the oxygen-enriched air 24.5 in. Mk. I intended originally for the G3-class battlecruisers and N3 class battleships of 1921, both being cancelled due to

3744-616: A torpedo against the Ottoman cruiser "Medjidieh". The end of the Russo-Japanese War fuelled new theories, and the idea of dropping lightweight torpedoes from aircraft was conceived in the early 1910s by Bradley A. Fiske , an officer in the United States Navy . Awarded a patent in 1912, Fiske worked out the mechanics of carrying and releasing the aerial torpedo from a bomber , and defined tactics that included

3900-600: A tubular device, designed to run underwater on its own, and powered by compressed air. The result was a submarine weapon, the Minenschiff (mine ship), the first modern self-propelled torpedo, officially presented to the Austrian Imperial Naval commission on 21 December 1866. The first trials were not successful as the weapon was unable to maintain a course at a steady depth. After much work, Whitehead introduced his "secret" in 1868 which overcame this. It

4056-518: A variety of platforms. In modern warfare, a submarine-launched torpedo is almost certain to hit its target; the best defense is a counterattack using another torpedo. The word torpedo was first used as a name for electric rays (in the order Torpediniformes ), which in turn comes from the Latin word torpēdō ("lethargy" or "sluggishness"). In naval usage, the American inventor David Bushnell

4212-400: A vice president, and provided the technology for bulb-making. Production equipment was bought from GE and Tokyo Denki soon started selling its products with GE's trademark. Toshiba was founded in 1939 by the merger of Shibaura Seisakusho and Tokyo Denki. The merger of Shibaura and Tokyo Denki created a new company called Tokyo Shibaura Denki (Tokyo Shibaura Electric) ( 東 京 芝 浦 電気 ). It

4368-506: A wire 1.0 millimetre (0.04 in) in diameter but later this was changed to 1.8 mm (0.07 in) to increase the speed to 27 knots (50 km/h; 31 mph). The torpedo was fitted with elevators controlled by a depth-keeping mechanism, and the fore and aft rudders operated by the differential between the drums. Brennan traveled to Britain, where the Admiralty examined the torpedo and found it unsuitable for shipboard use. However,

4524-573: A year. Earlier in April, the company filed twice-delayed business results without an endorsement from auditor PricewaterhouseCoopers (PwC). On 20 September 2017, Toshiba's board approved a deal to sell its memory chip business to a group led by Bain Capital for US$ 18 billion, with financial backing by companies such as Apple , Dell Technologies , Hoya Corporation , Kingston Technology , Seagate Technology , and SK Hynix . The newly independent company

4680-410: Is often handled through international arbitration . The actions of multinational corporations are strongly supported by economic liberalism and free market system in a globalized international society. According to the economic realist view, individuals act in rational ways to maximize their self-interest and therefore, when individuals act rationally, markets are created and they function best in

4836-522: Is still in limited service in the 21st century. The improved Mark VIII** was used in two particularly notable incidents; on 6 February 1945 the only intentional wartime sinking of one submarine by another while both were submerged took place when HMS Venturer sank the German submarine U-864 with four Mark VIII** torpedoes and on 2 May 1982 when the Royal Navy submarine HMS  Conqueror sank

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4992-474: Is today called a contact mine , floating on or below the water surface using an air-filled demijohn or similar flotation device. These devices were very primitive and apt to prematurely explode. They would be detonated on contact with the ship or after a set time, although electrical detonators were also occasionally used. USS  Cairo was the first warship to be sunk in 1862 by an electrically-detonated mine. Spar torpedoes were also used; an explosive device

5148-865: Is usually a large corporation incorporated in one country that produces or sells goods or services in various countries. Two common characteristics shared by MNCs are their large size and centrally controlled worldwide activities. MNCs may gain from their global presence in a variety of ways. First of all, MNCs can benefit from the economy of scale by spreading R&D expenditures and advertising costs over their global sales, pooling global purchasing power over suppliers, and utilizing their technological and managerial experience globally with minimal additional costs. Furthermore, MNCs can use their global presence to take advantage of underpriced labor services available in certain developing countries and gain access to special R&D capabilities residing in advanced foreign countries. The problem of moral and legal constraints upon

5304-608: The Financial Times reported on 23 January 2006 that Toshiba had won the bid, it valued the company's offer at $ 5 billion (£2.8 billion). The sale of Westinghouse by the Government of the United Kingdom surprised many industry experts, who questioned the wisdom of selling one of the world's largest producers of nuclear reactors shortly before the market for nuclear power was expected to grow substantially; China ,

5460-572: The Battle of Mobile Bay in 1864, " Damn the torpedoes, full speed ahead! " refers to a minefield laid at Mobile, Alabama . On 26 May 1877, during the Romanian War of Independence , the Romanian spar torpedo boat Rândunica attacked and sank the Ottoman river monitor Seyfi . This was the first instance in history when a torpedo boat sank its targets without also sinking. A prototype of

5616-535: The Battle of Tsushima , Admiral Rozhestvensky 's flagship , the battleship Knyaz Suvorov , had been gunned to a wreck by Admiral Tōgō 's 12-inch gunned battleline . With the Russians sunk and scattering, Tōgō prepared for pursuit, and while doing so ordered his torpedo boat destroyers (TBDs) (mostly referred to as just destroyers in most written accounts) to finish off the Russian battleship. Knyaz Suvorov

5772-631: The Battle of the Atlantic and the Pacific War. Torpedo boats, such as MTBs , PT boats , or S-boats , enabled the relatively small but fast craft to carry enough firepower, in theory, to destroy a larger ship, though this rarely occurred in practice. The largest warship sunk by torpedoes from small craft in World War II was the British cruiser Manchester , sunk by Italian MAS boats on

5928-572: The Battle of the North Cape in December 1943, torpedo hits from British destroyers Savage and Saumarez slowed the German battleship Scharnhorst enough for the British battleship Duke of York to catch and sink her, and in May 1945 the British 26th Destroyer Flotilla (coincidentally led by Saumarez again) ambushed and sank Japanese heavy cruiser Haguro . During World War II , Hedy Lamarr and composer George Antheil developed

6084-980: The British East India Company founded in 1600 and the Dutch East India Company (VOC) founded in 1602. In addition to carrying on trade between Great Britain and its colonies, the British East India Company became a quasi-government in its own right, with local government officials and its own army in India. Other examples include the Swedish Africa Company founded in 1649 and the Hudson's Bay Company founded in 1670. These early corporations engaged in international trade and exploration and set up trading posts. The Dutch government took over

6240-581: The British Empire for more than fifteen years. The Royal Navy frigate HMS  Shah was the first naval vessel to fire a self-propelled torpedo in anger during the Battle of Pacocha against rebel Peruvian ironclad Huáscar on 29 May 1877. The Peruvian ship successfully outran the device. On 16 January 1878, the Turkish steamer Intibah became the first vessel to be sunk by self-propelled torpedoes, launched from torpedo boats operating from

6396-544: The First Sino-Japanese War in 1894. At this time torpedo attacks were still very close range and very dangerous to the attackers. Several western sources reported that the Qing dynasty Imperial Chinese military, under the direction of Li Hongzhang , acquired electric torpedoes, which they deployed in numerous waterways, along with fortresses and numerous other modern military weapons acquired by China. At

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6552-645: The Tientsin Arsenal in 1876, the Chinese developed the capacity to manufacture these "electric torpedoes" on their own. Although a form of Chinese art, the Nianhua , depict such torpedoes being used against Russian ships during the Boxer Rebellion , whether they were actually used in battle against them is undocumented and unknown. The Russo-Japanese War (1904–1905) was the first great war of

6708-465: The United States and the United Kingdom were all expected to invest heavily in nuclear power. The acquisition of Westinghouse for $ 5.4 billion was completed on 17 October 2006, with Toshiba obtaining a 77 percent share, and partners The Shaw Group a 20 percent share and Ishikawajima-Harima Heavy Industries Co. Ltd. a 3 percent share. In late 2007, Toshiba took over from Discover Card as

6864-750: The War Office proved more amenable, and in early August 1881, a special Royal Engineer committee was instructed to inspect the torpedo at Chatham and report back directly to the Secretary of State for War, Hugh Childers . The report strongly recommended that an improved model be built at government expense. In 1883 an agreement was reached between the Brennan Torpedo Company and the government. The newly appointed Inspector-General of Fortifications in England, Sir Andrew Clarke , appreciated

7020-549: The Washington Naval Treaty . Initially, the Imperial Japanese Navy purchased Whitehead or Schwartzkopf torpedoes but by 1917, like the Royal Navy, they were conducting experiments with pure oxygen instead of compressed air. Because of explosions they abandoned the experiments but resumed them in 1926 and by 1933 had a working torpedo. They also used conventional wet heater torpedoes. In

7176-455: The inter-war years , financial stringency caused nearly all navies to skimp on testing their torpedoes. Only the British and Japanese had fully tested new technologies for torpedoes (in particular the Type 93 , nicknamed Long Lance postwar by the US official historian Samuel E. Morison ) at the start of World War II. Unreliable torpedoes caused many problems for the American submarine force in

7332-478: The 1860s onwards allowed small torpedo boats and other lighter surface vessels , submarines / submersibles , even improvised fishing boats or frogmen , and later light aircraft , to destroy large ships without the need of large guns, though sometimes at the risk of being hit by longer-range artillery fire. Modern torpedoes are classified variously as lightweight or heavyweight; straight-running, autonomous homers, and wire-guided types. They can be launched from

7488-670: The 19th century, such as the Rio Tinto company founded in 1873, which started with the purchase of sulfur and copper mines from the Spanish government. Rio Tinto, now based in London and Melbourne , Australia, has made many acquisitions and expanded globally to mine aluminum , iron ore , copper , uranium , and diamonds . European mines in South Africa began opening in the late 19th century, producing gold and other minerals for

7644-544: The 20th century. During the war the Imperial Russian and Imperial Japanese navies launched nearly 300 torpedoes at each other, all of them of the "self-propelled automotive" type. The deployment of these new underwater weapons resulted in one battleship, two armored cruisers, and two destroyers being sunk in action, with the remainder of the roughly 80 warships being sunk by the more conventional methods of gunfire, mines, and scuttling . On 27 May 1905, during

7800-604: The American Lieutenant Commander John A. Howell , whose design , driven by a flywheel , was simpler and cheaper. It was produced from 1885 to 1895, and it ran straight, leaving no wake. A Torpedo Test Station was set up in Rhode Island in 1870. The Howell torpedo was the only United States Navy model until an American company, Bliss and Williams secured manufacturing rights to produce Whitehead torpedoes. These were put into service for

7956-757: The Argentine cruiser ARA  General Belgrano with two Mark VIII** torpedoes during the Falklands War . This is the only sinking of a surface ship by a nuclear-powered submarine in wartime and the second (of three) sinkings of a surface ship by any submarine since the end of World War II). The other two sinkings were of the Indian frigate INS  Khukri and the South Korean corvette ROKS Cheonan . Many classes of surface ships, submarines, and aircraft were armed with torpedoes. Naval strategy at

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8112-672: The Brazilian company Semp (Sociedade Eletromercantil Paulista), subsequently forming Semp Toshiba through the combination of the two companies' South American operations. In 1987, Toshiba Machine, a subsidiary of Toshiba, was accused of illegally selling CNC milling machines used to produce very quiet submarine propellers to the Soviet Union in violation of the CoCom agreement, an international embargo on certain countries to COMECON countries. The Toshiba-Kongsberg scandal involved

8268-551: The English language. Senior officials, although mostly still Swedish, all learned English and all major internal documents were in English, the lingua franca of multinational corporations. After the war, the number of businesses having at least one foreign country operation rose drastically from a few thousand to 78,411 in 2007. Meanwhile, 74% of parent companies are located in economically advanced countries. Developing and former communist countries such as China, India, and Brazil are

8424-575: The International Energy Agency (IEA), enabling states to coordinate policy, gather data, and monitor global oil reserves. In the 1970s, OPEC gradually nationalized the Seven Sisters. The Kingdom of Saudi Arabia, as the only largest world oil producer, could leverage this. However, Saudi Arabia opted for the correct approach and maintained consistent oil prices throughout the 1970s. In 1979, the "second oil shock" came from

8580-468: The Navy started to use competitive bids and then build its own works, the demand decreased substantially and the company started to lose money. The main creditor to the company, Mitsui Bank, took over the insolvent company in 1893 and renamed it Shibaura Seisakusho (Shibaura Engineering Works). Shibaura Seisakusho ( 芝浦製作所 , Shibaura Engineering Works) was the new name given to Tanaka Seisakusho after it

8736-511: The Netherlands has become a popular choice, as its company laws have fewer requirements for meetings, compensation, and audit committees, and Great Britain had advantages due to laws on withholding dividends and a double-taxation treaty with the United States. Corporations can legally engage in tax avoidance through their choice of jurisdiction but must be careful to avoid illegal tax evasion . Corporations that are broadly active across

8892-558: The OLI framework. The other theoretical dimension of the role of multinational corporations concerns the relationship between the globalization of economic engagement and the culture of national and local responses. This has a history of self-conscious cultural management going back at least to the 60s. For example: Ernest Dichter, architect, of Exxon's international campaign, writing in the Harvard Business Review in 1963,

9048-618: The Social Infrastructure Group in India as Toshiba Transmission & Distribution Systems (India) Private Limited. In January 2014, Toshiba completed its acquisition of OCZ Storage Solutions . OCZ Technology stock was halted on 27 November 2013. OCZ then stated they expected to file a petition for bankruptcy and that Toshiba Corporation had expressed interest in purchasing its assets in a bankruptcy proceeding. On 2 December 2013, OCZ announced Toshiba had agreed to purchase nearly all of OCZ's assets for $ 35 million. The deal

9204-404: The Third World colonies. That changed dramatically after 1945 as investors turned to industrialized countries and invested in manufacturing (especially high-tech electronics, chemicals, drugs, and vehicles) as well as trade. Sweden's leading manufacturing concern was SKF , a leading maker of bearings for machinery. In order to expand its international business, it decided in 1966 it needed to use

9360-423: The U.S. Consumer Product Safety Commission. Toshiba first announced the recall in January and said it was recalling the batteries in certain Toshiba Notebook computers sold since June 2011. In May 2016, it was announced that Satoshi Tsunakawa, the former head of Toshiba's medical equipment division, was named CEO. This appointment came after the accounting scandal that occurred. In September 2016, Toshiba announced

9516-490: The U.S. Navy in 1892. Five varieties were produced, all 18-inch diameter. The Royal Navy introduced the Brotherhood wet heater engine in 1907 with the 18 in. Mk. VII & VII* which greatly increased the speed and/or range over compressed air engines and wet heater type engines became the standard in many major navies up to and during the Second World War. Ships of the line were superseded by ironclads , large steam-powered ships with heavy gun armament and heavy armor, in

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9672-636: The U.S. applies its corporate taxation "extraterritorially", which has motivated tax inversions to change the home state. By 2019, most OECD nations, with the notable exception of the U.S., had moved to territorial tax in which only revenue inside the border was taxed; however, these nations typically scrutinize foreign income with controlled foreign corporation (CFC) rules to avoid base erosion and profit shifting . In practice, even under an extraterritorial system, taxes may be deferred until remittance, with possible repatriation tax holidays , and subject to foreign tax credits . Countries generally cannot tax

9828-410: The U.S., or by Vestel and other manufacturers for the European market. In September 2015, Toshiba shares fell to their lowest point in two and a half years. The firm said in a statement that its net losses for the quarterly period were 12.3 billion yen ($ 102m; £66m). The company noted poor performances in its televisions, home appliances and personal computer businesses. In October 2015, Toshiba sold

9984-452: The USN twenty-one months into the Pacific War. British submarines used torpedoes to interdict the Axis supply shipping to North Africa , while Fleet Air Arm Swordfish sank three Italian battleships at Taranto by a torpedo and (after a mistaken, but abortive, attack on Sheffield ) scored one crucial hit in the hunt for the German battleship Bismarck . Large tonnages of merchant shipping were sunk by submarines with torpedoes in both

10140-450: The United States sanctions against Iran ; European companies faced with the possibility of losing access to the U.S. market by trading with Iran. International investment agreements also facilitate direct investment between two countries, such as the North American Free Trade Agreement and most favored nation status. Raymond Vernon reported in 1977 that of the largest multinationals focused on manufacturing, 250 were headquartered in

10296-506: The United States scrutinizes foreign investments. In addition, corporations may be prohibited from various business transactions by international sanctions or domestic laws. For example, Chinese domestic corporations or citizens have limitations on their ability to make foreign investments outside China, in part to reduce capital outflow . Countries can impose extraterritorial sanctions on foreign corporations even for doing business with other foreign corporations, which occurred in 2019 with

10452-427: The United States . During the war, American forces unsuccessfully attempted to destroy the British ship of the line HMS Ramillies while it was lying at anchor in New London, Connecticut 's harbor with torpedoes launched from small boats. This prompted the captain of Ramillies , Sir Thomas Hardy, 1st Baronet , to warn the Americans to cease using this "cruel and unheard-of warfare" or he would "order every house near

10608-558: The United States as the largest consumer and guarantor of the existing oil security order. Since the Iraq War, OPEC has had only a minor influence on oil prices, but it has expanded to 11 members, accounting for about 40 percent of total global oil production, although this is a decline from nearly 50 percent in 1974. Oil has practically become a common commodity, leading to much more volatile prices. Most OPEC members are wealthy, and most remain dependent on oil revenues, which has serious consequences, such as when OPEC members were pressured by

10764-461: The United States from 2010. The USA became the leading oil producer, creating tension with OPEC. In 2014, Saudi Arabia increased production to push new American producers out of the market, leading to lower prices. OPEC then reduced production in 2016 to raise prices, further worsening relations with the United States. By 2012, only 7% of the world's known oil reserves were in countries that allowed private international companies free rein; 65% were in

10920-407: The United States, 115 in Western Europe, 70 in Japan, and 20 in the rest of the world. The multinationals in banking numbered 20 headquartered in the United States, 13 in Europe, nine in Japan and three in Canada. Today multinationals can select from a variety of jurisdictions for various subsidiaries, but the ultimate parent company can select a single legal domicile ; The Economist suggests that

11076-475: The VOC in 1799, and during the 19th century, other governments increasingly took over private companies, most notably in British India. During the process of decolonization , the European colonial charter companies were disbanded, with the final colonial corporation, the Mozambique Company , dissolving in 1972. Mining of gold, silver, copper, and oil was a major activity early on and remains so today. International mining companies became prominent in Britain in

11232-507: The West to the post-colonial South and invest either in foreign expenditures or ostentatious economic development projects. After 1974, most of the money from OPEC members ceased as payments for goods and services or investments in Western industry. In February 1974, the first Washington Energy Conference was convened. The most significant contribution of this conference was the establishment of

11388-469: The behavior of multinational corporations, given that they are effectively "stateless" actors, is one of several urgent global socioeconomic problems that has emerged during the late twentieth century. Potentially, the best concept for analyzing society's governance limitations over modern corporations is the concept of "stateless corporations". Coined at least as early as 1991 in Business Week ,

11544-475: The blunt nose provided a speed advantage of approximately one knot compared to the traditional pointed nose design. This discovery allowed for larger explosive payloads and increased air storage for propulsion without compromising speed. In 1893, RN torpedo production was transferred to the Royal Gun Factory . The British later established a Torpedo Experimental Establishment at HMS  Vernon and

11700-742: The collapse of the Shah's regime in Iran. Iran became a regional power due to oil money and American weapons. The Shah eventually abdicated and fled the country. This prompted a strike by thousands of Iranian oil workers, significantly reducing oil production in Iran. Saudi Arabia tried to cope with the crisis by increasing production, but oil prices still soared, leading to the "second oil shock." Saudi Arabia significantly reduced oil production, losing most of its revenues. In 1986, Riyadh changed course, and oil production in Saudi Arabia sharply increased, flooding

11856-654: The companies. This occurred in 1960. Prior to the 1973 oil crisis , the Seven Sisters controlled around 85 percent of the world's petroleum reserves . In the 1970s, most countries with large reserves nationalized their reserves that had been owned by major oil companies. Since then, industry dominance has shifted to the OPEC cartel and state-owned oil and gas companies, such as Saudi Aramco , Gazprom (Russia), China National Petroleum Corporation , National Iranian Oil Company , PDVSA (Venezuela), Petrobras (Brazil), and Petronas (Malaysia). A unilateral increase in oil prices

12012-550: The company's century-long presence in consumer markets. After a rejection to split the company, in 2023 Toshiba was purchased by a consortium led by Japan Industrial Partners (JIP); Toshiba turned private as a result and was delisted from the Tokyo Stock Exchange after 74 years, where it was formerly a constituent of the Nikkei 225 and TOPIX 100 indices. Tanaka Seisakusho ( 田中製作所 , Tanaka Engineering Works)

12168-416: The company's indebtedness to more than 1 trillion yen (about $ 8.3 billion). In January 2016, Toshiba's security division unveiled a new bundle of services for schools that use its surveillance equipment. The program, which is intended for both K-12 and higher education, includes education discounts, alerts, and post-warranty support, among other features, on its IP-based security gear. In March 2016, Toshiba

12324-510: The conception was theoretically clarified in 1993: that an empirical strategy for defining a stateless corporation is with analytical tools at the intersection between demographic analysis and transportation research. This intersection is known as logistics management , and it describes the importance of rapidly increasing global mobility of resources. In a long history of analysis of multinational corporations, we are some quarter-century into an era of stateless corporations—corporations that meet

12480-727: The construction of the first purpose-built operational torpedo aircraft, the Short Type 184 , built-in 1915. An order for ten aircraft was placed, and 936 aircraft were built by ten different British aircraft companies during the First World War . The two prototype aircraft were embarked upon HMS  Ben-my-Chree , which sailed for the Aegean on 21 March 1915 to take part in the Gallipoli campaign . On 12 August 1915 one of these, piloted by Flight Commander Charles Edmonds ,

12636-643: The creation of a "world customer". The idea of a global corporate village entailed the management and reconstitution of parochial attachments to one's nation. It involved not a denial of the naturalness of national attachments, but an internationalization of the way a nation defines itself. "Multinational enterprise" (MNE) is the term used by international economist and similarly defined with the multinational corporation (MNC) as an enterprise that controls and manages production establishments, known as plants located in at least two countries. The multinational enterprise (MNE) will engage in foreign direct investment (FDI) as

12792-562: The debate from a neo-liberal perspective in Storm over the Multinationals (1977). Torpedo A modern torpedo is an underwater ranged weapon launched above or below the water surface, self-propelled towards a target, and with an explosive warhead designed to detonate either on contact with or in proximity to the target. Historically, such a device was called an automotive, automobile, locomotive, or fish torpedo; colloquially

12948-481: The early modern period up to the late 19th century. In the early 17th century, the Dutchman Cornelius Drebbel , in the employ of King James I of England , invented the spar torpedo; he attached explosives to the end of a beam affixed to one of his submarines. These were used (to little effect) during the English expeditions to La Rochelle in 1626. The first use of a torpedo by a submarine

13104-581: The early years of the war, primarily in the Pacific Theater . One possible exception to the pre-war neglect of torpedo development was the 45-cm caliber, 1931-premiered Japanese Type 91 torpedo , the sole aerial torpedo ( Koku Gyorai ) developed and brought into service by the Japanese Empire before the war. The Type 91 had an advanced PID controller and jettisonable, wooden Kyoban aerial stabilizing surfaces which released upon entering

13260-543: The explosive charges with which he outfitted his submarine Nautilus . However, both the French and the Dutch governments were uninterested in the submarine. Fulton then concentrated on developing the torpedo-like weapon independent of a submarine deployment, and in 1804 succeeded in convincing the British government to employ his 'catamaran' against the French. An April 1804 torpedo attack on French ships anchored at Boulogne, and

13416-403: The factory was exporting torpedoes to ten other countries. The torpedo was powered by compressed air and had an explosive charge of gun-cotton . Whitehead went on to develop more efficient devices, demonstrating torpedoes capable of 18 knots (33 km/h) in 1876, 24 knots (44 km/h) in 1886, and, finally, 30 knots (56 km/h) in 1890. Royal Navy (RN) representatives visited Rijeka for

13572-481: The firm makes direct investments in host country plants for equity ownership and managerial control to avoid some transaction costs . Sanjaya Lall in 1974 proposed a spectrum of scholarly analysis of multinational corporations, from the political right to the left. He put the business school how-to-do-it writers at the extreme right, followed by the liberal laissez-faire economists, and the neoliberals (they remain right of center but do allow for occasional mistakes of

13728-506: The first mass-market laptop in 1985 and later ranking as a major vendor of laptops; it exited the PC business in 2020 having divested it into Dynabook Inc. Toshiba faced trouble during the 2010s amid a much-publicised accounting scandal that affected its reputation, and the bankruptcy of its subsidiary nuclear energy company Westinghouse in 2017. This forced the conglomerate to shed a number of underperforming businesses, essentially eliminating

13884-477: The first practical guided missile was patented by Louis Brennan , an emigre to Australia, in 1877. It was designed to run at a consistent depth of 12 feet (3.7 m), and was fitted with an indicator mast that just broke the surface of the water. At night the mast had a small light, only visible from the rear. Two steel drums were mounted one behind the other inside the torpedo, each carrying several thousand yards of high-tensile steel wire. The drums connected via

14040-664: The first wireless power receiver IC using the Qi 1.2.2 specification, developed in association with the Wireless Power Consortium . In December 2016, Toshiba Medical Systems Corporation was acquired by Canon . A Chinese electrical appliance corporation Midea Group bought a controlling 80.1% stake in the Toshiba Home Appliances Group. In late December 2016, the management of Toshiba requested an "urgent press briefing" to announce that

14196-503: The flat-panel digital television and display market, Toshiba has made a considerable investment in a new kind of display technology called SED . This technology, however, was never sold to the public, as it was not price-competitive with LCDs. Toshiba sold its share in SED Inc. to Canon after Nano-Proprietary, which owns several patents related to SED technology, claimed SED Inc. was not a subsidiary of Canon. Before World War II , Toshiba

14352-417: The founder of the present Oki Denki ( Oki Electric Industry ); and Ishiguro Keizaburō , a co-founder of the present Anritsu . After the demise of the founder in 1881, Tanaka Seisakusho became partly owned by General Electric and expanded into the production of torpedoes and mines at the request of the Imperial Japanese Navy , to become one of the largest manufacturing companies of the time. However, as

14508-416: The hands of state-owned companies that operated in one country and sold oil to multinationals such as BP, Shell, ExxonMobil and Chevron. Down through the 1930s, about 80% of the international investments by multinational corporations were concentrated in the primary sector, especially mining (especially oil) and agriculture (rubber, tobacco, sugar, palm oil , coffee, cocoa, and tropical fruits). Most went to

14664-461: The image sensor business to Sony . In December 2015, Muromachi said the episode had wiped about $ 8 billion off Toshiba's market value. He forecast a record 550 billion yen (about US$ 4.6 billion) annual loss and warned the company would have to overhaul its TV and computer businesses. Toshiba would not be raising funds for two years, he said. The next week, a company spokesperson announced Toshiba would seek 300 billion yen ($ 2.5 billion) in 2016, taking

14820-519: The imports and the quality was poorer. The company managed to survive with the booms after the First Sino-Japanese War of 1894–95 and the Russo-Japanese War of 1904–05, but afterward its financial position was precarious. In 1905, the company was renamed Tokyo Denki (Tokyo Electric) and entered into a financial and technological collaboration with General Electric of the US. General Electric acquired 51 percent share of ownership, sent

14976-521: The international oil market. Iran was unable to sell any of its oil. In August 1953, the then-prime minister was overthrown by a pro-American dictatorship led by the Shah, and in October 1954, the Iranian industry was denationalized. Worldwide oil consumption increased rapidly between 1949 and 1970, a period known as the 'golden age of oil'. This increase in consumption was caused not only by the growth of production by multinational oil companies but also by

15132-415: The internationalization of production. For the first time in history, production, marketing, and investment are being organized on a global scale rather than in terms of isolated national economies. International business is also a specialist field of academic research. Economic theories of the multinational corporation include internalization theory and the eclectic paradigm . The latter is also known as

15288-461: The keiretsu or allied keiretsu. This loyalty can extend as far as the beer the employees consume, which in Toshiba's case is Asahi . In July 2005, BNFL confirmed it planned to sell Westinghouse Electric Company , then estimated to be worth $ 1.8 billion (£1 billion). The bid attracted interest from several companies including Toshiba, General Electric and Mitsubishi Heavy Industries and when

15444-407: The land that had been dismissed by the naval authorities due to the impractical steering and propulsion mechanisms. In 1866, Whitehead invented the first effective self-propelled torpedo, the eponymous Whitehead torpedo , the first modern torpedo. French and German inventions followed closely, and the term torpedo came to describe self-propelled projectiles that traveled under or on water. By 1900,

15600-460: The largest recipients. However, 70% of foreign direct investment went into developed countries in the form of stocks and cash flows. The rise in the number of multinational companies could be due to a stable political environment that encourages cooperation, advances in technology that enable management of faraway regions, and favorable organizational development that encourages business expansion into other countries. A multinational corporation (MNC)

15756-474: The laws and regulations of both their domicile and the additional jurisdictions where they are engaged in business. In some cases, the jurisdiction can help to avoid burdensome laws, but regulatory statutes often target the "enterprise" with statutory language around "control". As of 1992 , the United States and most OECD countries have the donot legal authority to tax a domiciled parent corporation on its worldwide revenue, including subsidiaries. As of 2019 ,

15912-408: The main causes of the dramatic fall in Toshiba's financial performance and collapse in the share price. Fixed priced construction contracts negotiated by Westinghouse with Georgia Power left Toshiba with uncharted liabilities that resulted in the sale of key Toshiba operating subsidiaries to secure the company's future. Westinghouse filed for Chapter 11 bankruptcy protection on 29 March 2017. Toshiba

16068-494: The market with cheap oil. This caused a worldwide drop in oil prices, hence the "third oil shock" or "counter-shock." However, this shock represented something much bigger—the end of OPEC's dominance and its control over oil prices. Iraqi President Saddam Hussein decided to attack Kuwait. The invasion sparked a crisis in the Middle East, prompting Saudi Arabia to request assistance from the United States. The United States sent

16224-543: The marketplace such as externalities). Moving to the left side of the line are nationalists, who prioritize national interests over corporate profits, then the "dependencia" school in Latin America that focuses on the evils of imperialism, and on the far left the Marxists. The range is so broad that scholarly consensus is hard to discern. Anti-corporate advocates criticize multinational corporations for being without

16380-451: The mid 19th century. Ultimately this line of development led to the dreadnought category of all-big-gun battleships, starting with HMS  Dreadnought . Although these ships were incredibly powerful, the new weight of armor slowed them down, and the huge guns needed to penetrate that armor fired at very slow rates. The development of torpedoes allowed for the possibility that small and fast vessels could credibly threaten if not sink even

16536-422: The most powerful battleships. While such attacks would carry enormous risks to the attacking boats and their crews (which would likely need to expose themselves to artillery fire which their small vessels were not designed to withstand) this was offset by the ability to construct large numbers of small vessels far more quickly and for a much lower unit cost compared to a capital ship. The first boat designed to fire

16692-483: The newly-found losses in the Westinghouse subsidiary from Vogtle Electric Generating Plant nuclear plant construction would lead to a write-down of several billion dollars, bankrupting Westinghouse and threatening to bankrupt Toshiba. The exact amount of the liabilities was unavailable. In January 2017, a person with direct knowledge of the matter reported that the company plans on making its memory chip division

16848-423: The night of 12/13 August 1942 during Operation Pedestal . Destroyers of all navies were also armed with torpedoes to attack larger ships. In the Battle off Samar , destroyer torpedoes from the escorts of the American task force "Taffy 3" showed effectiveness at defeating armor. Damage and confusion caused by torpedo attacks were instrumental in beating back a superior Japanese force of battleships and cruisers. In

17004-410: The present Toshiba company. Several people who worked at Tanaka Seisakusho or who received Tanaka's guidance at a Kubusho (Ministry of Industries) factory later became pioneers themselves. These included Miyoshi Shōichi  [ jp ] who helped Fujioka Ichisuke  [ jp ] make the first power generator in Japan and to establish a company, Hakunetsusha to make bulbs; Oki Kibatarō ,

17160-560: The price collapse in 1998–1999. The United States still maintains close relations with Saudi Arabia. In 2003, U.S. forces invaded Iraq with the aim of removing the dictatorship and gaining access to Iraqi oil reserves, giving the United States greater strategic importance from 2000 to 2008. During this period, there was a constant shortage of oil, but its consumption continued to rise, maintaining high prices and leading to concerns about "peak oil". From 2005 to 2012, there were advances in oil and gas extraction, leading to increased production in

17316-653: The problems. In the United States Navy (USN), there was an extended wrangle over the problems plaguing the Mark 14 torpedo (and its Mark 6 exploder ). Cursory trials had allowed bad designs to enter service. Both the Navy Bureau of Ordnance and the United States Congress were too busy protecting their interests to correct the errors, and fully functioning torpedoes only became available to

17472-611: The realities of the needs of source materials on a worldwide basis and to produce and customize products for individual countries. One of the first multinational business organizations, the East India Company , was established in 1601. After the East India Company came the Dutch East India Company , founded on March 20, 1603, which would become the largest company in the world for nearly 200 years. The main characteristics of multinational companies are: When

17628-493: The self-propelled Whitehead torpedo was HMS  Lightning , completed in 1877. The French Navy followed suit in 1878 with Torpilleur No 1 , launched in 1878 though she had been ordered in 1875. The first torpedo boats were built at the shipyards of Sir John Thornycroft and gained recognition for their effectiveness. At the same time, inventors were working on building a guided torpedo. Prototypes were built by John Ericsson , John Louis Lay , and Victor von Scheliha, but

17784-562: The self-propelled torpedo was created on a commission placed by Giovanni Luppis , an Austro-Hungarian naval officer from Rijeka (modern-day Croatia ), at the time a port city of the Austro-Hungarian Monarchy and Robert Whitehead , an English engineer who was the manager of a town factory. In 1864, Luppis presented Whitehead with the plans of the Salvacoste ("Coastsaver"), a floating weapon driven by ropes from

17940-540: The shares of the Swiss-based advanced-power-meter maker Landis+Gyr for $ 2.3 billion. In 2010 the company released a series of television models including the WL768, YL863, VL963 designed in collaboration with Danish designer Timothy Jacob Jensen . In April 2012, Toshiba agreed to acquire IBM 's point-of-sale business for $ 850 million, making it the world's largest vendor of point-of-sale systems. In July 2012, Toshiba

18096-711: The shore to be destroyed". The fact that Hardy had been previously so lenient and considerate to the Americans led them to abandon such attempts with immediate effect. Torpedoes were used by the Russian Empire during the Crimean War in 1855 against British warships in the Gulf of Finland . They used an early form of chemical detonator. During the American Civil War , the term torpedo was used for what

18252-616: The sponsor of the top-most screen of One Times Square in New York City . It displays the iconic 60-second New Year's countdown on its screen, as well as messages, greetings, and advertisements for the company. The sponsor of the New Year's countdown was taken over by Capital One on 31 December 2018. In January 2009, Toshiba acquired the HDD business of Fujitsu . Toshiba announced on 16 May 2011, that it had agreed to acquire all of

18408-488: The start of World War II. Around this time too the Royal Navy were perfecting the Brotherhood burner cycle engine which offered a performance as good as the oxygen-enriched air engine but without the issues arising from the oxygen equipment and which was first used in the extremely successful and long-lived 21 in. Mk. VIII torpedo of 1925. This torpedo served throughout WW II (with 3,732 being fired by September 1944) and

18564-501: The strong influence of the United States on the global oil market. In 1959, companies lowered the price of oil due to a surplus in the market. This reduction dealt a significant blow to the finances of producers. Saudi oil minister Abdullah Tariki and Venezuela’s Juan Perez Alfonso entered into a secret agreement (the Mahdi Pact), promising that if the price of oil was lowered a second time, they would take collective action against

18720-512: The target. Fiske reported in 1915 that, using this method, enemy fleets could be attacked within their harbors if there was enough room for the torpedo track. Meanwhile, the Royal Naval Air Service began actively experimenting with this possibility. The first successful aerial torpedo drop was performed by Gordon Bell in 1914 – dropping a Whitehead torpedo from a Short S.64 seaplane . The success of these experiments led to

18876-722: The tender Velikiy Knyaz Konstantin under the command of Stepan Osipovich Makarov during the Russo-Turkish War of 1877–78 . In another early use of the torpedo, during the War of the Pacific , the Peruvian ironclad Huáscar commanded by captain Miguel Grau attacked the Chilean corvette Abtao on 28 August 1879 at Antofagasta with a self-propelled Lay torpedo only to have it reverse course. The ship Huascar

19032-435: The term no longer included mines and booby-traps as the navies of the world added submarines, torpedo boats and torpedo boat destroyers to their fleets. Whitehead was unable to improve the machine substantially, since the clockwork motor, attached ropes, and surface attack mode all contributed to a slow and cumbersome weapon. However, he kept considering the problem after the contract had finished, and eventually developed

19188-542: The time was to use torpedoes, launched from submarines or warships, against enemy warships in a fleet action on the high seas. There were concerns torpedoes would be ineffective against warships' heavy armor; an answer to this was to detonate torpedoes underneath a ship, badly damaging its keel and the other structural members in the hull, commonly called "breaking its back". This was demonstrated by magnetic influence mines in World War I. The torpedo would be set to run at

19344-561: The tug. Without the weight of the torpedo Dacre was able to take off and return to Ben-My-Chree . Torpedoes were widely used in World War I , both against shipping and against submarines. Germany disrupted the supply lines to Britain largely by use of submarine torpedoes, though submarines also extensively used guns. Britain and its allies also used torpedoes throughout the war. U-boats themselves were often targeted, twenty being sunk by torpedo. Two Royal Italian Navy torpedo boats scored

19500-474: The two previous CEOs. Chairman Masashi Muromachi was appointed acting CEO. Following the scandal, Toshiba Corp. was removed from a stock index showcasing Japan's best companies. That was the second reshuffle of the index, which picks companies with the best operating income, return on equity and market value. Toshiba announced in early 2015 that they would stop making televisions in its own factories. From 2015 onward, Toshiba televisions will be made by Compal for

19656-593: The value of the torpedo and in spring 1883 an experimental station was established at Garrison Point Fort , Sheerness , on the River Medway , and a workshop for Brennan was set up at the Chatham Barracks , the home of the Royal Engineers. Between 1883 and 1885 the Royal Engineers held trials and in 1886 the torpedo was recommended for adoption as a harbor defense torpedo. It was used throughout

19812-498: The value of these placements were reduced by its exit from consumer-oriented lines of business. Multinational corporation Most of the current largest and most influential companies are publicly traded multinational corporations, including Forbes Global 2000 companies. The history of multinational corporations began with the history of colonialism . The first multi-national corporations were founded to set up colonial "factories" or port cities. The two main examples were

19968-483: The water, making it a formidable anti-ship weapon; Nazi Germany considered manufacturing it as the Luftorpedo LT 850 after August 1942 . The Royal Navy's 24.5-inch oxygen-enriched air torpedo saw service in the two Nelson class battleships although by World War II the use of enriched oxygen had been discontinued due to safety concerns. In the final phase of the action against Bismarck , Rodney fired

20124-496: The world market, jobs for locals, and business and profits for companies. Cecil Rhodes (1853–1902) was one of the few businessmen in the era who became Prime Minister (of South Africa 1890–1896). His mining enterprises included the British South Africa Company and De Beers . The latter company practically controlled the global diamond market from its base in southern Africa. In 1945, the United States

20280-573: The world without a concentration in one area have been called stateless or "transnational" (although "transnational corporation" is also used synonymously with "multinational corporation" ), but as of 1992, a corporation must be legally domiciled in a particular country and engage in other countries through foreign direct investment and the creation of foreign subsidiaries. Geographic diversification can be measured across various domains, including ownership and control, workforce, sales, and regulation and taxation. Multinational corporations may be subject to

20436-503: The worldwide revenue of a foreign subsidiary, and taxation is complicated by transfer pricing arrangements with parent corporations. For small corporations, registering a foreign subsidiary can be expensive and complex, involving fees, signatures, and forms; a professional employer organization (PEO) is sometimes advertised as a cheaper and simpler alternative, but not all jurisdictions have laws accepting these types of arrangements. Disputes between corporations in different nations

20592-493: Was 18 in (46 cm) in diameter and 19 ft (5.8 m) long, made of polished steel or phosphor bronze , with a 200-pound (91 kg) gun-cotton warhead. It was propelled by a three-cylinder Brotherhood radial engine, using compressed air at around 1,300  psi (9.0  MPa ) and driving two contra-rotating propellers, and was designed to self-regulate its course and depth as far as possible. By 1881, nearly 1,500 torpedoes had been produced. Whitehead also opened

20748-582: Was a company established by Miyoshi Shōichi and Fujioka Ichisuke , two of Japan's industrial pioneers during the Tokugawa / Edo period . It specialized in the manufacturing of lightbulbs. The company was established in 1890 and started out by selling bulbs using bamboo filaments. However, following the opening up of trade with the West through the Unequal treaty , Hakunetsusha met with fierce competition from imports. Its bulb cost about 60 percent more than

20904-523: Was a mechanism consisting of a hydrostatic valve and pendulum that caused the torpedo's hydroplanes to be adjusted to maintain a preset depth. After the Austrian government decided to invest in the invention, Whitehead started the first torpedo factory in Rijeka. In 1870, he improved the devices to travel up to approximately 1,000 yards (910 m) at a speed of up to 6 knots (11 km/h), and by 1881

21060-535: Was a member of the Mitsui Group zaibatsu ( family-controlled vertical monopoly ). Today Toshiba is a member of the Mitsui keiretsu (a set of companies with interlocking business relationships and shareholdings), and still has preferential arrangements with Mitsui Bank and the other members of the keiretsu. Membership in a keiretsu has traditionally meant loyalty, both corporate and private, to other members of

21216-438: Was accused of fixing the prices of LCD panels in the United States at a high level. While such claims were denied by Toshiba, they agreed to settle alongside several other manufacturers for a total of $ 571 million. In December 2013, Toshiba completed its acquisition of Vijai Electricals Limited plant at Hyderabad and set up its own base for manufacturing of transmission and distribution products (transformers and switchgears) under

21372-454: Was completed on 21 January 2014 when the assets of OCZ Technology Group became a new independently operated subsidiary of Toshiba named OCZ Storage Solutions. OCZ Technology Group then changed its name to ZCO Liquidating Corporation; on 18 August 2014, ZCO Liquidating Corporation and its subsidiaries were liquidated. OCZ Storage Solutions was dissolved on 1 April 2016 and absorbed into Toshiba America Electronic Components, Inc., with OCZ becoming

21528-459: Was declared insolvent in 1893 and taken over by Mitsui Bank. In 1910, it formed a tie-up with General Electric (GE), which, in exchange for technology, acquired about a quarter of the shares of Shibaura. The relation with GE continued until the beginning of World War II and resumed in 1953 with GE's 24 percent shareholding in the successor company, Tokyo Shibaura Denki. This percentage decreased substantially since then. Hakunetsusha ( 白熱舎 )

21684-438: Was enabled by multinational corporations known as the 'Seven Sisters'. The "Seven Sisters" was a common term for the seven multinational companies that dominated the global petroleum industry from the mid-1940s to the mid-1970s. The nationalization of the Iranian oil industry in 1951 by Iranian Prime Minister Mohammad Mosaddegh and the subsequent boycott of Iranian oil by all companies had dramatic consequences for Iran and

21840-420: Was estimated to have 9 billion dollar annual net loss. On 11 April 2017, Toshiba filed unaudited quarterly results. Auditors PricewaterhouseCoopers had not signed of the accounts because of uncertainties at Westinghouse. Toshiba stated that "substantial doubt about the company's ability to continue as a going concern exists". On 25 April 2017, Toshiba announced its decision to replace its auditor after less than

21996-439: Was formerly also one of the biggest manufacturers of personal computers , consumer electronics , home appliances , and medical equipment . The Toshiba name is derived from its former name, Tokyo Shibaura Denki K.K. which in turn was a 1939 merger between Shibaura Seisaku-sho (founded in 1875) and Tokyo Denki (founded in 1890). The company name was officially changed to Toshiba Corporation in 1978. A technology company with

22152-448: Was fully aware that the means to overcoming cultural resistance depended on an "understanding" of the countries in which a corporation operated. He observed that companies with "foresight to capitalize on international opportunities" must recognize that " cultural anthropology will be an important tool for competitive marketing". However, the projected outcome of this was not the assimilation of international firms into national cultures, but

22308-612: Was in 1775, by the American Turtle , which attempted to lay a bomb with a timed fuse on the hull of HMS  Eagle during the American Revolutionary War , but failed in the attempt. In the early 1800s, the American inventor Robert Fulton , while in France, "conceived the idea of destroying ships by introducing floating mines under their bottoms in submarine boats". He employed the term "torpedo" for

22464-413: Was investigating an accounting scandal and it might have to revise its profits for the previous three years. On 21 July 2015, CEO Hisao Tanaka announced his resignation amid an accounting scandal that he called "the most damaging event for our brand in the company's 140-year history". Profits had been inflated by $ 1.2 billion over the previous seven years. Eight other senior officials also resigned, including

22620-546: Was labeled as "the largest nonviolent transfer of wealth in human history." The OPEC sought immediate discussions regarding participation in national oil industries. Companies were not inclined to object as the price hike benefited both them and OPEC members. In 1980, the Seven Sisters were entirely displaced and replaced by national oil companies (NOCs). The rise in oil prices burdened developing countries with balance of payments deficits, leading to an energy crisis. OPEC members had to abandon their plan of redistributing wealth from

22776-489: Was mounted at the end of a spar up to 30 feet (9.1 m) long projecting forward underwater from the bow of the attacking vessel, which would then ram the opponent with the explosives. These were used by the Confederate submarine H. L. Hunley to sink USS  Housatonic although the weapon was apt to cause as much harm to its user as to its target. Rear Admiral David Farragut 's famous/apocryphal command during

22932-519: Was named Toshiba Memory Corporation , and then renamed Kioxia . On 15 November 2017, Hisense reached a deal to acquire 95% of Toshiba Visual Solutions ( television sets ) for US$ 113.6 million. Later that month, the company announced that it would pull out of its long-standing sponsorships of the Japanese television programs Sazae-san , Nichiyō Gekijo , and the video screens topping out One Times Square in New York City . The company cited that

23088-449: Was preparing to start construction on a cutting-edge new semiconductor plant in Japan that would mass-produce chips based on the ultra-dense flash variant. Toshiba expected to spend approximately 360 billion yen, or $ 3.2 billion, on the project through May 2019. In April 2016, Toshiba recalled 100,000 faulty laptop lithium-ion batteries, which were made by Panasonic , that can overheat, posing burn and fire hazards to consumers, according to

23244-464: Was reported to have first used the term as the name of a submarine of his own design, the "American Turtle or Torpedo." This usage likely inspired Robert Fulton 's use of the term to describe his stationary mines , and later Robert Whitehead 's naming of the first self-propelled torpedo. Torpedo-like weapons were first proposed many centuries before they were successfully developed. For example, in 1275, Arab engineer Hasan al-Rammah – who worked as

23400-556: Was saved when an officer jumped overboard to divert it. The Chilean ironclad Blanco Encalada was sunk on 23 April 1891 by a self-propelled torpedo from the Almirante Lynch , during the Chilean Civil War of 1891 , becoming the first ironclad warship sunk by this weapon. The Chinese turret ship Dingyuan was purportedly hit and disabled by a torpedo after numerous attacks by Japanese torpedo boats during

23556-488: Was set upon by 17 torpedo-firing warships, ten of which were destroyers and four torpedo boats. Twenty-one torpedoes were launched at the pre-dreadnought , and three struck home, one fired from the destroyer Murasame and two from torpedo boats No. 72 and No. 75 . The flagship slipped under the waves shortly thereafter, taking over 900 men with her to the bottom. On December 9, 1912, the Greek submarine "Dolphin" launched

23712-601: Was sold in 1961 by Toshiba in Japan. Toshiba is responsible for a number of Japanese firsts, including radar (1912), the TAC digital computer (1954), transistor television, color CRTs and microwave oven (1959), color video phone (1971), Japanese word processor (1978), MRI system (1982), personal computer Pasopia (1981), laptop personal computer (1986), NAND EEPROM (1991), DVD (1995), the Libretto sub-notebook personal computer (1996) and HD DVD (2005). In 1977, Toshiba acquired

23868-771: Was soon nicknamed Toshiba, but it was not until 1978 that the company was officially renamed Toshiba Corporation. The company was listed on the Tokyo Stock Exchange in May 1949. The group expanded rapidly, driven by a combination of organic growth and by acquisitions, buying heavy engineering, and primary industry firms in the 1940s and 1950s. Groups created include Toshiba Music Industries/Toshiba EMI (1960), Toshiba International Corporation (the 1970s), Toshiba Electrical Equipment (1974), Toshiba Chemical (1974), Toshiba Lighting and Technology (1989), Toshiba America Information Systems (1989) and Toshiba Carrier Corporation (1999). The first mini-split ductless air conditioner

24024-477: Was the first aircraft in the world to attack an enemy ship with an air-launched torpedo. On 17 August 1915 Flight Commander Edmonds torpedoed and sank an Ottoman transport ship a few miles north of the Dardanelles. His formation colleague, Flight Lieutenant G B Dacre, was forced to land on the water owing to engine trouble but, seeing an enemy tug close by, taxied up to it and released his torpedo, sinking

24180-433: Was the first company established by Tanaka Hisashige (1799–1881), one of the most original and productive inventor-engineers during the Tokugawa / Edo period . Established on 11 July 1875, it was the first Japanese company to manufacture telegraph equipment. It also manufactured switches, and miscellaneous electrical and communications equipment. The company was inherited by Tanaka's adopted son, and later became half of

24336-513: Was the world's largest oil producer. However, their reserves were declining due to high demand. Therefore, the United States turned to foreign oil sources, which had a significant impact on the recovery of the West after World War II. Most of the world's oil was found in Latin America and the Middle East, particularly in the Arab states of the Persian Gulf. This increase in non-American production

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