Toshiba will develop a new business plan and review privatization
Hardware

Toshiba will develop a new business plan and review privatization proposals by June

At an extraordinary shareholders’ meeting in March, Toshiba’s management failed to implement a restructuring plan that envisaged dividing the company into two parts. A new business plan is now due by June, and while it is being prepared a special committee will consider proposals to buy up the company’s assets from interested investors.

    Image source: Toshiba

Image source: Toshiba

Accordingly Nikkei Asian Review, a committee of six of its independent members has been set up within the Board of Directors for this purpose, which must determine the proposal that best suits the interests of the various groups of shareholders. The committee must present its conclusions on the work done before the next shareholders’ meeting, which will be held in June. At the same time, Toshiba’s new business plan will be announced.

According to Japanese sources, Toshiba’s management decided not to sell assets related to the production of lifting mechanisms and lighting devices. But Toshiba wants to sell its stake in the air conditioning business by September this year.

3D Investment Partners, which owns 7.6% of Toshiba’s shares, earlier this week asked the board to meet three requirements ahead of the shareholders’ meeting in June: find buyers, disclose a medium-term development plan and discuss with shareholders the composition of the board. Apparently management is now trying to act in the interests of shareholders, as Toshiba changed CEOs in early March – Taro Shimada has been working abroad for many years and is therefore able to seek compromises between the custodians of Japanese company values ​​and foreign investors.

.

About the author

Dylan Harris

Dylan Harris is fascinated by tests and reviews of computer hardware.

Add Comment

Click here to post a comment