Toshiba: Troubled electronics and energy giant to leave stock market after more than 70 years
- Troubled electronics and energy giant Toshiba, one of Japan's oldest and biggest firms, is set to become a private company after over 70 years on the stock market. The company will switch to its new parent company TBJH Inc, delist from the Tokyo Stock Exchange, and end its history as a listed company.
- Toshiba's privatization comes after a series of challenges, including a sprawling accounting scandal in 2015 and losses in its nuclear energy business. The company also faces the daunting task of decommissioning the Fukushima nuclear power plant. Despite the delisting, Toshiba's CEO is determined to improve its value.
- A consortium led by Japan Industrial Partners has purchased a majority stake in Toshiba, allowing the company to go private. The deal is worth $14bn and is expected to be completed by the end of this year. Toshiba's long history and stock market presence will come to an end as it embarks on a new future with its new shareholder.
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Total News Sources0
Leaning Left6Leaning Right2Center14Last UpdatedBias Distribution64% Center
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C 64%
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