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

Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! CTOnews.com, September 21 (Xinhua) according to a press release on Toshiba's website, more than half of shareholders recently participated in a $13.5 billion acquisition led by private equity fund Japan Industrial Partnership (JIP), reaching the threshold of privatizing the company, thus ending its 74-year history of listed entities.

JIP, a privatization report provided by ▲ Toshiba's website, currently owns 78.65% of Toshiba and said that once a decision is made, it will announce the date of delisting from the Tokyo Stock Exchange, and JIP plans to retain Toshiba's chief executive and his management team.

Toshiba's history dates back to 1875, but Toshiba has been hit by scandals and heavy losses since 2015, and Toshiba's delisting will put an end to its troubled decade.

Toshiba, once known for its technological innovation, paid the highest fine in Japan's history in 2015 for falsifying financial statements.

The company then suffered a catastrophic blow to its foray into nuclear power, forcing it to write down $6.3 billion (currently about 45.99 billion yuan) and sell its "Pearl in the Crown" memory chip business, which has now been restructured as Kioxia Holdings Corp.)

In 2021, the company announced a plan to split into three departments, but in 2022 it revised the plan to support a two-way split. After the then CEO resigned to take responsibility for the chaos, the board began soliciting bids for the company's privatisation.

Japanese JIP-led consortium will launch a takeover offer for Toshiba, with a total price estimated to be as high as 2 trillion yen.

Referenc

(privatization report provided by Toshiba's website) Announcement of the Results of the Tender Offer by TBJH Inc. For the Company Shares and Change of the Parent Company and the Largest Shareholder Among the Major Shareholders

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