Toshiba ends 74-year history as public firm, set for turnaround

Economy

Toshiba Corp. was delisted on Wednesday, bringing down the curtain on its 74-year history as a listed company following a 2 trillion yen ($14 billion) buyout from a consortium led by Japan Industrial Partners Inc. Under the new owner, the major Japanese tech company will focus on turning around its business, which was undermined by a spate of problems in the 2010s, ranging from an accounting scandal to massive losses in its U.S. nuclear business. "Toshiba Group will now take a major step toward a new future with a new shareholder," the company said in a statement on Tuesday, adding that it wil...

Kyodo News

Kyodo News