On December 20, local time, the Asahi Shimbun reported that Japan's Toshiba Corporation will be delisted from the Tokyo ** Stock Exchange on the same day, ending the 74-year history of listed companies since 1949.
Toshiba has a history of nearly 150 years, and as one of the representatives of Japan's manufacturing industry, it was once known as the three giants of Japanese white goods along with Panasonic and Sharp, and was also involved in many fields such as semiconductors, energy, and infrastructure.
However, after being exposed to an accounting scandal in 2015, Toshiba fell into a financial crisis, and even became insolvent for a long time, and was in a state of management chaos and operational difficulties for a long time.
On August 8, 2023, a consortium led by Private Equity** "Japan Industrial Partners" (JIP) launched a tender offer for Toshiba totaling about 2 trillion yen (about 13.5 billion U.S. dollars).
On September 21, Toshiba announced that the tender offer led by JIP was successful, with more than half of the shareholders participating in the acquisition, meeting the threshold to privatize the company.
Toshiba said that it will take an important step towards a new future together with the new shareholders and strive to further enhance its corporate value.
* CCTV news and public information.