According to Japan's Kyodo News Agency on December 20, Japan's Toshiba Corporation announced on the 19th that it is scheduled to be delisted on the 20th. Behind this move is Toshiba's long-term sluggish performance, marking the end of Toshiba's 74-year history of going public。Toshiba's ** price on the last trading day (19th) was 4,590 yen (about 228 yuan). The company expressed its sincere gratitude to all parties who have supported them for many years.
Founded in 1875, Toshiba is one of the representatives of Japan's manufacturing industry, and has a huge influence in the fields of home appliances, electricity, energy, and infrastructure. Toshiba, Japan's largest semiconductor manufacturer, invented the NAND flash memory chip. In its heyday, the revenue of the home appliance business accounted for one-third of Toshiba's total revenue, and it became the "Big Three" of Japanese white goods with Sharp and Panasonic.
However, Toshiba has buried hidden dangers in the process of development. In 2006, Toshiba bought Westinghouse for $5.4 billion** to develop the nuclear power business, but did not achieve the expected results. Since then, Toshiba has experienced the 2008 financial crisis, the 2011 Fukushima nuclear accident in Japan, and the industrial trough of its core businesses such as semiconductors and personal computers, and has suffered consecutive net losses since fiscal 2014, resulting in a significant shrinkage of the company.
In 2015, Toshiba's accounting fraud was exposed, resulting in the company's stock price. What followed was the sale of Toshiba's equity in the storage business, TV business, and computer business, and the white goods business of washing machines and refrigerators was given to Midea (000333SZ), 95% of Toshiba TV's equity ** to Hisense Video (600060.).SH), but the sale of assets still did not solve Toshiba's problems.
These problems exacerbated Toshiba's operating difficulties and eventually triggered the company's decision to delist. But the delisting is not the end of Toshiba, but a new beginning. The company said it would work with the new shareholders to take a significant step forward and look to the future. This move aims to re-establish Toshiba's position in the industry, regain market confidence, and achieve long-term stability in the business.
Toshiba's delisting has sparked widespread concern among industry insiders and investors. It will not be easy for Toshiba to regain its footing, but it is this kind of determination and effort that will open up a new future for the company.