Toshiba announces delisting from the Tokyo Stock Exchange in December

Tech 2023-10-13 13:21:53 Source: Network

Global Network Technology Comprehensive ReportAccording to Japanese media on October 13th, Japanese industrial giant Toshiba announced on Thursday that it will hold a special shareholders' meeting in Tokyo on November 22nd to approve its stock merger and delist from the Tokyo Stock Exchange on December 20th, ending its 74 year long listing history.Foreign media pointed out that after delisting, Toshiba shares are expected to be listed on the Prime market of the Tokyo Stock Exchange and the Premier market of the Nagoya Stock Exchange

Global Network Technology Comprehensive ReportAccording to Japanese media on October 13th, Japanese industrial giant Toshiba announced on Thursday that it will hold a special shareholders' meeting in Tokyo on November 22nd to approve its stock merger and delist from the Tokyo Stock Exchange on December 20th, ending its 74 year long listing history.

Foreign media pointed out that after delisting, Toshiba shares are expected to be listed on the Prime market of the Tokyo Stock Exchange and the Premier market of the Nagoya Stock Exchange. After delisting, Toshiba shares will not be able to trade on the Tokyo Stock Exchange Main Board Market and the Nagoya Stock Exchange Main Board Market.

Just last month, Toshiba announced the success of a 2 trillion yen tender offer from private equity firm Japan Industrial Partners (JIP). More than half of the shareholders participated in this acquisition, reaching the threshold of privatizing the company. Toshiba JIP currently holds 78.65% of the company's shares.

According to data, as one of Japan's leading enterprises, Toshiba was established in 1875. At the beginning of its establishment, it was an electrical appliance manufacturer and gradually expanded into new business areas such as infrastructure and renewable energy. Since the accounting scandal in 2015, it has been in crisis after crisis. Foreign media believe that the delisting and delisting of this former home appliance giant means that it is about to emerge from a 10-year dilemma.

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