Toshiba Delisting from Tokyo Exchange as Privatization Looms After Years of Scandals and Losses

Toshiba will delist from the Tokyo Stock Exchange within a month after a consortium purchased over 78% of shares in a tender offer.
Toshiba faced troubles like an accounting scandal, losses in its nuclear energy business, and the costly Fukushima nuclear plant decommissioning.
Toshiba was once a leading Japanese electronics brand behind products like rice cookers and laptops.
Toshiba has spun off businesses like its memory chip unit Kioxia, in which it retains a stake.
It's uncertain if privatization will help Toshiba return to profitability after recent losses.

euronews.com

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9/21/2023

Toshiba to Leave Public Markets After 74 Years as Japan Industrial Partners Takes Company Private

Japanese firm Toshiba is set to end its 74-year history on the stock market as a consortium led by Japan Industrial Partners (JIP) has acquired a majority stake, allowing them to complete a $14 billion deal to make the company private. This comes after Toshiba faced setbacks in recent years, including overstating profits, major losses, and collusion with the Japanese government.