Iconic Tech Firm Drops From Japan’s Stock Exchange After Nearly 75 Years
The company traces its roots all the way back to the 19th century.![Iconic Tech Firm Drops From Japan’s Stock Exchange After Nearly 75 Years](https://cdn.sanity.io/images/8mioycse/v3/9cecb09eca1202b23300b341fa16be8e4a70cccb-5000x3333.jpg?rect=0,259,5000,2816&w=1204&h=678&fit=crop&auto=format)
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Subscribe for free to get more stories like this directly to your inboxA global brand that has been closely linked to the Tokyo stock market for the better part of a century has gone private. According to reports, Toshiba has been removed from the exchange following a period of increasing pressure from investors.
Toshiba’s complicated history
As Japan’s influence within the electronics realm grew exponentially throughout the latter half of the 20th century, Toshiba was among a handful of companies at the epicenter of that trend. Its products were exported around the world and its increasing stock value over several decades reflected the company’s outsized impact on Japan’s economy.
The 21st century, however, has not been as kind. Not only have other tech companies presented new challenges to its dominance, but there was a major controversy regarding its accounting practices that forced its boss to resign and left the company under new, uncertain leadership.
Part of the restructuring process involved a deal with a private equity group that amounted to the equivalent of nearly $14 billion. As a result, the company once again became private after about 74 years as a publicly traded entity.
An outlook for the future
Delisting from the stock market is just one way that Toshiba hopes to appease its investors from around the world who still have serious concerns about the company’s practices.
It has inked a partnership with the chip-manufacturer Rohm and the company itself could still be split into multiple entities to maximize its profitability and total value.
In the end, Toshiba’s current owners are seeking to stress the opinion that these changes will help preserve a brand that dates back (at least in some form) to 1875 and currently employs well over 100,000 people.
“Toshiba Group will now take a major step toward a new future with a new stakeholder,” the company stated.
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