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After 74 years of listing, the giant Toshiba officially delisted today.

2024-06-18 Update From: SLTechnology News&Howtos shulou NAV: SLTechnology News&Howtos > IT Information >

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Shulou(Shulou.com)12/24 Report--

Japanese technology giant Toshiba, which has been listed for 74 years, will be delisted from Japan's Tokyo Stock Exchange on Wednesday, local time. Toshiba, one of Japan's largest brands, has faced upheaval and scandals for more than a decade. At present, where the company can go in the future is still open to question.

Toshiba privatised a group of investors led by private equity firm JIP, including financial services company Orix, utility company Zhong Electric and chipmaker Roma Semiconductor.

The scale of Toshiba's privatisation reached $14 billion. While it is unclear what form Toshiba will eventually take under its new owner, Taro Shimada, the company's remaining chief executive, is expected to focus on high-margin digital services.

JIP's support for Taro Shimada disrupted an earlier plan to work with a government-backed fund. Some industry insiders say breaking up Toshiba may be a better option.

"Toshiba's woes are ultimately caused by bad strategic decisions and bad luck," said Damian Thong, head of Japan research at Macquarie Capital Securities. "I hope the divestiture will enable Toshiba's assets and talent to find a new home and reach their full potential."

Toshiba has about 106000 employees, some of its business is crucial, and the Japanese government is concerned about the privatisation of Toshiba.

Four JIP executives will join Toshiba's board. In addition, investors Orix and Central Electric also have a senior executive to join the company's board of directors. A senior adviser from Sumitomo Mitsui Financial Group, Toshiba's main lender, will join the newly formed management team.

Toshiba has begun to act aggressively, partnering with investor Roma Semiconductor to build a $2.7 billion plant to produce power chips.

Ulrike Ulrike Schaede, a professor of Japanese business at the University of California, University of California, San Diego, says Toshiba needs to pull out of lower-margin businesses and develop stronger business strategies for some of its advanced technologies.

"if management can find a way to get these engineers to really participate in groundbreaking innovation, they can become important participants," says Schade. "they are already a high-tech company."

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