Toshiba, the Japanese conglomerate with a long history, has reached an agreement for a consortium of investors to acquire almost 80% of its shares in an operation valued at $13.5 billion. The investment fund Japan Industrial Partners (JIP) led this takeover bid, which far exceeded the threshold necessary to exclude other investors.
This operation marks an important milestone in Toshiba’s path towards going public. The company’s CEO, Taro Shimada, announced that they are taking a step towards a new future with a new shareholder.
Toshiba, founded in 1875, has been a symbol of Japan’s industrial boom after World War II, manufacturing everything from computers to nuclear plants. However, the company has faced a series of crises, including an accounting manipulation scandal in 2015, which has affected its stability.
Pressure from shareholders eventually led to the decision to sell the majority of the shares to a consortium made up of 20 large Japanese banks and companies. This transaction marks a turning point in Toshiba’s history and could have a significant impact on its future as a company.
Toshiba’s exit from the stock market is a reflection of the challenges it faces in a constantly changing market and is an important step in its effort to reinvent itself and adapt to new business realities.