Toshiba Corporation announced that the TOB = tender offer for shares aimed at delisting shares for the purpose of stabilizing management was completed with approximately 78% of the tender bids. It is expected to go private by the end of this year, and one of the leading companies in the Japan manufacturing industry will reach a major management milestone.
Toshiba aims to delist its shares with the aim of effectively eliminating overseas investment funds called activists, and Japan Industrial Partners, an investment fund, made a tender offer for TOB=shares from last month to 20.
On the 21st, Toshiba announced the final results of the TOB and announced that the TOB was completed with 78.65% of the shares applied for the purchase.
Going forward, an extraordinary general meeting of shareholders will be held around November, and all remaining shares are purchased and delisted by the end of this year, and one of the leading companies in the Japan manufacturing industry will reach a major management milestone.
With regard to Toshiba, since the fraudulent accounting scandal was discovered in 11, the president has resigned one after another, and the acceptance of activist investments with the aim of rebuilding its financial base has led to management confusion.
For management, going private will increase the degree of management freedom, but management issues remain as to how to proceed with growth investment while bearing the financial burden of approximately 2015 trillion yen associated with the TOB.