End of an era for electronics giant Toshiba
There was a time when more than one of your TVs, computers, speaker systems or other essential electronic goods would have been made by Toshiba
equipment.
After a great deal of back and forth over whether the company should split up into smaller companies, Toshiba set up a committee to explore whether it could be taken private.
In June 2022, Toshiba received eight buyout proposals.
Earlier this year, the company confirmed it would be taken over by a group of Japanese investors led by state-backed Japan Investment Corp (JIC) for $14bn.
It's not clear how the new owners plan to turn around Toshiba but its outgoing chairman has said high-margin digital services will be a focus.
JIP does have a track record in carving out businesses from big manufacturers including Sony's laptop division and Olympus's camera unit.
After acquiring Sony's Vaio laptop business in 2014, it helped the company achieve record sales this last year.
But Toshiba is a much bigger company and the stakes are high: Toshiba employs around 106,000 people and some of its operations are seen as critical to national security.
https://www.bbc.com/news/business-67757333
There was a time when more than one of your TVs, computers, speaker systems or other essential electronic goods would have been made by Toshiba
equipment.
After a great deal of back and forth over whether the company should split up into smaller companies, Toshiba set up a committee to explore whether it could be taken private.
In June 2022, Toshiba received eight buyout proposals.
Earlier this year, the company confirmed it would be taken over by a group of Japanese investors led by state-backed Japan Investment Corp (JIC) for $14bn.
It's not clear how the new owners plan to turn around Toshiba but its outgoing chairman has said high-margin digital services will be a focus.
JIP does have a track record in carving out businesses from big manufacturers including Sony's laptop division and Olympus's camera unit.
After acquiring Sony's Vaio laptop business in 2014, it helped the company achieve record sales this last year.
But Toshiba is a much bigger company and the stakes are high: Toshiba employs around 106,000 people and some of its operations are seen as critical to national security.
https://www.bbc.com/news/business-67757333
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