Toshiba To Be Delisted After 74 Years

Toshiba will be delisted on Wednesday after 74 years on the Tokyo exchange, following a decade of upheaval and scandal that brought down one of Japan's biggest brands and ushered in a buyout and an uncertain future. From a report: The conglomerate is being taken private by a group of investors led by private equity firm Japan Industrial Partners that also includes financial services firm Orix, utility Chubu Electric Power and chipmaker Rohm. The $14 billion takeover puts Toshiba in domestic hands after protracted battles with overseas activist investors that paralysed the maker of batteries, chips, and nuclear and defence equipment. Although it is not clear what shape Toshiba will ultimately take under its new owners, Chief Executive Taro Shimada, who is staying in his role following the buyout, is expected to focus on high-margin digital services.

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