Shulou(Shulou.com)11/24 Report--

CTOnews.com October 12 news, at this stage, Toshiba is considering a series of restructuring plans, also involving the possibility of privatization. In June, Toshiba said it had received 10 investment proposals, including eight privatisation proposals. While the other two are about capital and business alliances, Toshiba will continue to be listed.

Previous intelligence suggested that Japan Investment Corp,JIC, a Japanese government-backed investment fund, and Japan Industrial Partners,JIP, a Japanese private equity firm, formed an alliance that stood out in the first round of bids.

According to Kyodo News, a person familiar with the matter said that the Japanese business alliance with JIP as its core is seeking to buy Toshiba for 2.8 trillion yen (about 137.76 billion yuan), which is about 26% higher than Toshiba's current market capitalization of 2.22 trillion yen.

Toshiba plans to give priority to negotiations with the corporate alliance at the core of JIP. JIP to Central Electric Power, Orix and other Japanese companies to seek funding to participate in the restructuring of Toshiba. It seems to be exploring the strategy of restructuring through delisting, and whether it can raise a huge amount of acquisition capital of more than 2 trillion yen (about 98 billion yuan) will be the focus.

Toshiba also announced on Sept. 30 that it had received letters of intent equivalent to the restructuring plan from several camps that passed the first round of tenders. It is reported that in addition to JIP, the semi-official fund "Industrial Innovation Investment Agency" has also submitted a letter of intent, and the partner of Toshiba's restructuring has actually been reduced to two camps dominated by domestic funds.

Toshiba's first-quarter results showed an operating loss of 4.8 billion yen, the first quarterly loss in two years, due to global chip shortages and rising raw material costs, compared with a net profit of 14.5 billion yen a year earlier.

CTOnews.com has reported that there were earlier reports that JIP and JIC disagreed over Toshiba's restructuring plan, leading JIC to abandon JIP and work with other overseas investment funds that won the first round of bids, including Bain Capital of the US and CVC of the UK.

Toshiba has been plagued by financial and governance crises since 2015. Toshiba set up a special committee in April to solicit investment proposals after shareholders voted down a management-backed restructuring plan.

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