Toshiba passes privatization proposal and is about to delist from Tokyo Stock Exchange

【Lansheng Technology News】Recently,Toshibashareholders passed the company's privatization proposal at a special shareholders' meeting, and the company will be delisted from the Tokyo Stock Exchange on December 20.

Data shows that Toshiba is one of the representative manufacturers of Japan's manufacturing industry. In November 2021, Toshiba announced a strategic reorganization. It plans to split the original Toshiba Group into three independent companies by March 2024, focusing on infrastructure, electronics and electronics. Equipment and semiconductors, among which, the spin-off semiconductor company will be composed of Kioxia and Toshiba Technology Corporation held by Toshiba.

In February 2022,Toshibaadjusted its restructuring plan, abandoning the split into three plans. It only planned to split into two independent companies, focusing on infrastructure services and equipment business including semiconductors, and selling non-core assets.

However, compared with splitting up, major foreign shareholders want Toshiba to be privatized and delisted. In August this year, Japan's domestic fund "Japan Industrial Partners" (JIP) officially launched a tender offer for Toshiba totaling approximately 2 trillion yen (approximately US$13.5 billion). In September, Toshiba announced that the tender offer led by JIP had been successful, with more than half of its shareholders participating in the acquisition, reaching the threshold for privatizing the company.

Today, Toshiba shareholders approved the company's privatization plan at a special shareholders' meeting, paving the way for the company to delist from the Tokyo Stock Exchange as scheduled on December 20.