Toshiba Exits Stock Market With Final Farewell Bidding Adieu

- Advertisement -
  • In 2015, the company grappled with a significant accounting scandal
  • Toshiba has also faced the considerable and costly task of decommissioning a nuclear power plant

Soon, Toshiba to become a private entity. A Japanese consortium has taken majority ownership of Toshiba following their successful tender offer of 2 trillion yen (£11 billion).

The consortium’s share has already exceeded the minimum reach by 78.65%, which shows the shift in Toshiba’s parentage to TBJH Inc., which is a particular purpose company established by Japan Industrial Partners (JIP) to acquire the Toshiba shares through the tender offer.

Toshiba’s CEO, Taro Shimada, said, “Toshiba Group will now take a major step toward a new future with a new shareholder.”

- Advertisement -

He emphasised that even after privatisation, the company intends to prioritise ethical conduct to enhance its value. In 2015, the company grappled with a significant accounting scandal involving the manipulation of financial records over an extended period. This issue was compounded by challenges within Toshiba’s nuclear energy division.

Not only that, Toshiba has also faced the considerable and costly task of decommissioning a nuclear power plant in Fukushima, northern Japan. The plant was severely impacted by a tsunami in 2011, resulting in three meltdowns. The decommissioning process at the Fukushima Dai-ichi nuclear plant is anticipated to span several decades.

In addition, the company’s US nuclear subsidiary, Westinghouse, declared bankruptcy in 2017 due to prolonged financial losses primarily due to escalating safety expenses. Initially, Toshiba planned to make a new power station in Cumbria until 2018. In a strategic move in 2021, the company announced its decision to restructure, opting to split into three distinct business entities.

Toshiba’s journey through the pivotal transition to private ownership and its foray into cutting-edge technologies is being scrutinized by the industry and stakeholders. This convergence of financial restructuring and technological advancements is poised to define Toshiba’s future path, generating curiosity and high expectations in the business world and beyond.

- Advertisement -

Most Popular Articles

Nitisha Dubey
Nitisha Dubey
Nitisha Dubey is a journalist at EFY. She focuses on startups and innovations with a deep interest in new technologies and business models.

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

“AIC-T-Hub Aims To Grow Startups So More Indian Unicorns Can Contribute To The GDP”

0
T-Hub has collaborated with Atal Incubation Centre (AIC), initiated by the Atal Innovation Mission to incubate semiconductor startups, fostering innovation for India’s advancement in...

Pros And Cons: Boult’s Varun Gupta On Contract Electronics Manufacturing

0
While contract electronics manufacturing is not a new concept in India, it has lately picked up a pace never seen before. But what has...

Crompton Greaves Starts Kitchen Appliance Manufacturing In Vadodara

0
This move aims to boost product quality and operational efficiency, enhancing the delivery of innovative, high-quality kitchen solutions to meet growing consumer demands. Crompton Greaves...

Buzz

ASUS IoT And BRESSNER Technology Launch CTOS

0
The collaborative approach seamlessly integrates advanced features across CTOS solutions, fostering synergy. ASUS IoT has recently unveiled a strategic collaboration with BRESSNER Technology, aiming to...

Samsung Appoints Veteran Amid AI Chip Challenges

0
This shake-up, effective immediately, sees Young Hyun Jun transitioning from his role in future business planning to tackle the booming demand for high-end AI...

Imec-Led European Labs To Get $2.7B From Chips Act Funding

0
Europe's chip revolution gains momentum with a €2.5 billion investment in cutting-edge pilot production line for sub-2nm technologies, aiming to elevate domestic production and...

Important Sectors

Samsung Appoints Veteran Amid AI Chip Challenges

0
This shake-up, effective immediately, sees Young Hyun Jun transitioning from his role in future business planning to tackle the booming demand for high-end AI...

Imec-Led European Labs To Get $2.7B From Chips Act Funding

0
Europe's chip revolution gains momentum with a €2.5 billion investment in cutting-edge pilot production line for sub-2nm technologies, aiming to elevate domestic production and...

Progress And Challenges In Autonomous Commuting

0
Despite over a decade of technological advancements and testing in cities like Phoenix and San Francisco, robotaxis still faces significant hurdles.  Companies like Waymo, Cruise,...

New EV Policy Offers Incentives For Plant And Machinery Investments

0
Investments in creating physical infrastructure such as plants, machinery, charging stations, and other assets developed or acquired by companies will qualify for incentives under...

Dr Yashodhan Gokhale Joins JSW Energy As VP

0
Interestingly, he had started his professional innings in the role of a Research Chemist with Sudarshan Chemical Industries Dr Yashodhan Pramod Gokhale has joined JSW...

Manufacturing

Imec-Led European Labs To Get $2.7B From Chips Act Funding

0
Europe's chip revolution gains momentum with a €2.5 billion investment in cutting-edge pilot production line for sub-2nm technologies, aiming to elevate domestic production and...

EVR Motors Discusses Tech Sharing With Indian OEMs

0
The Israel-based EVR Motors designs Radial Flux Permanent Magnet (RFPM) motors and licenses this technology for manufacturing by OEMs and component makers. EVR Motors, an...

Automotive Electronics Industry Growth Prospects And Strategies

0
From electric vehicles (EVs) to autonomous vehicles, discover the challenges, key players, and market segments driving a $136 billion industry revolutionising vehicles and the...
Siemens and CSA

Siemens To Sell Innomotics To KPS For $3.8B

0
Siemens chief financial officer Ralf Thomas expressed his pleasure at the significant progress made in optimizing their portfolio through the sale of Innomotics to...
Siemens and CSA

Siemens Limited Announces ₹1000 Crore Capex

0
In a statement, Siemens announced that it is expanding its factory operations in Goa to address the rapidly growing demand for essential industry components. Siemens...