After 74 years, Toshiba decided to delist from the Tokyo stock exchange. The decision to delist was preceded by numerous upsides-downs at the company’s board level and other scandals.
Toshiba is being taken private, for an amount of $14 billion, by a group of local investors, mainly Japan Industrial Partners (JIP), Orix (8591), Chub Electric Power (9502), and the chipmaker Rohm (6963).
Toshiba is set for a new future in the business related to new technologies, the energy transition, chips, nuclear, and defense equipment.
Earlier this year, Toshiba has begun teaming up in the field of deep tech with Rohm by means of in investment of $2.7 billion in manufacturing facilities to jointly produce power chips.
At the board level, the existing board will be completed with people from Orix and Chub as well as Sumitomo Mitsui Financial Group (8316) which is the principal lender to the company.