Saturday, July 13

Toshiba’s 74-year stock market history is coming to an end

Toshiba, one of Japan’s oldest and largest corporations, is set to end its 74-year stock market history after a group of investors purchased a majority stake.

The company stated that a consortium led by private equity firm Japan Industrial Partners (JIP) had purchased 78.65 percent of its shares.

With more than two-thirds of the company, the consortium may clinch a $14 billion (£11.4 billion) plan to take it private.

The company began in 1875 as a manufacturer of telegraph equipment.

According to the agreement, its shares might be delisted as soon as this year’s conclusion.

Taro Shimada, president and chief executive officer of Toshiba, said in a statement that the business “will now take a major step toward a new future with a new shareholder.”

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