A new era has begun for Toshiba, which has not been able to get rid of the problems it has been for years. The company has transformed into a “heritage company” after the recent share purchases. Toshiba should withdraw from the stock market.
Toshiba, which dates back to the 1800s, has gone through a painful process, especially in recent years. Internal conflicts and declining revenues brought Toshiba to the brink of extinction. But the deep-rooted past prevented the fear from happening. Still, the incident took its toll on Toshiba.
The latest news suggests that the tech giant may withdraw from the Tokyo Stock Exchange (TSE). Toshiba said the consortium, led by private equity firm Japan Industrial Partners, had bought 78.65 percent of the shares for $14 billion. Thus, more than two-thirds of Toshiba no longer has investors.
Toshiba becomes “company of the next generation”
The purification of Toshiba from investors and the fact that the majority stake remained in the hands of a single group led to the transformation of the company into a “holding company”. This means that shares listed on the TSE since 1949 can be withdrawn from the stock exchange. The withdrawal from the stock market will not be immediate, but everything should become clear towards the end of the year.
The name that made statements on the subject was the number one name of Toshiba Taro Shimada. Shimada announced that they would take a step towards a new future with a new shareholder. We will see how all this will affect the future of Toshiba in the coming periods…