2023-12-20 16:14:35
Published on Dec 20 2023 at 9:25Updated Dec 20 2023 at 5:14 p.m.
In 1949, Tokyo Shibaura Electric, born from the merger of two venerable Japanese electrical equipment manufacturers, celebrated its entry on the Japanese Stock Exchange and displayed its great ambitions in generators but also refrigerators and washing machines. Renamed Toshiba in 1978, the group would, for decades, boost its offering of televisions, rice cookers, but also electronic components, nuclear power plants and locomotives on the Asian and Western markets. But 74 years following its listing, the conglomerate which had, for a time, embodied the glory of Japanese industry was taken out of the Tokyo Stock Exchange this Wednesday.
This withdrawal was decided last September, when a consortium of investors, led by the Japan Industrial Partners (JIP) fund, completed the takeover of Toshiba for 2,000 billion yen (13 billion euros). In a press release, the company explained on Wednesday that it would “take a big step towards a new future with a new shareholder and will strive to contribute more to society”. The group also thanked the shareholders who had remained loyal to it, despite the multiplication of economic and managerial setbacks.
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