TECH - End Of An Era: Toshiba Delisted From Tokyo Stock Exchange After 74 Years | Benzinga
Japanese tech giant Toshiba Corp (OTC:TOSBF), (OTC:TOSYY) concluded its 74-year presence on the Tokyo stock exchange on Wednesday, bringing an end to a tumultuous decade marked by scandals and a substantial $14 billion buyout.
What Happened: The tech behemoth will now shift to private ownership under a consortium led by Japan Industrial Partners (JIP) and including Orix Corp, Chubu Electric Power Co. Inc., and Rohm Co Ltd, as reported by Reuters.
This change comes in the wake of a sequence of controversies and overseas investor disputes that heavily impacted the company’s operations. The future of Toshiba under its new ownership is not yet clear, but it is expected that CEO Taro Shimada will focus on high-profit digital services.
The board of Toshiba will be joined by four executives from JIP, one representative each from Orix ...