Toshiba was delisted from the Tokyo Stock Exchange on Wednesday after 74 years, following a decade of upheaval and scandal that brought down one of Japan’s largest companies and ushered in a buyout and an uncertain future.
A consortium of investors led by private equity company Japan Industrial Partners is taking the conglomerate private, together with financial services business Orix, utility Chubu Electric Power, and chipmaker Rohm.
Toshiba is now in domestic hands following a protracted battle with international activist investors that crippled the creator of batteries, electronics, nuclear and defense equipment.
Toshiba said in a statement that it “will now take a major step towards a new future with a new shareholder,” and that it would appreciate continued understanding and support from its stakeholders.
Toshiba’s shares closed at 4,590 yen on Tuesday, down 0.1% from the previous day. READ MORE
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