Toshiba delisted after 74 years, faces future with new owners

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Toshiba was delisted on Wednesday after 74 years on the Tokyo exchange, following a decade of upheaval and scandal that brought down one of Japan's biggest brands and ushered in a buyout and an uncertain future.

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20 Dec 2023

The conglomerate is being taken private by a group of investors led by private equity firm Japan Industrial Partners(JIP) that also includes financial services firm Orix, utility Chubu Electric Power and chipmaker Rohm.

The $14 billion takeover puts Toshiba in domestic hands after protracted battles with overseas activist investors that paralysed the maker of batteries, chips, and nuclear and defence equipment.

Toshiba «will now take a major step toward a new future with a new shareholder,» the company said in a statement, adding that it would appreciate continuous understanding and support from its stakeholders.

Toshiba shares ended Tuesday, their last trading day, at 4,590 yen, down 0.1% from the previous day.

Although it is not clear what shape Toshiba will ultimately take under its new owners, Chief Executive Taro Shimada, who is