Spectacular Conclusion: Toshiba's 74-Year Public Listing Ends

As per the delisting criteria outlined by the Tokyo Stock Exchange and Nagoya Stock Exchange, Toshiba is poised to undergo delisting from the Tokyo Stock Exchange. In an official statement, the company has announced that it will convene a special shareholders' meeting on November 22nd for the purpose of endorsing its stock consolidation. Subsequently, the delisting from the Tokyo Stock Exchange is scheduled to occur on December 20th.

Upon delisting, Toshiba's shares are anticipated to be traded on the Tokyo Stock Exchange Prime Market and the Nagoya Stock Exchange Premier Market. However, they will no longer be available for trading on the Tokyo Stock Exchange Main Board Market and the Nagoya Stock Exchange Main Board Market.

In a significant development last month, Toshiba publicly declared its intention to delist from the Tokyo Stock Exchange, thereby concluding its enduring 74-year tenure as a publicly listed entity. This pivotal transformation was triggered by the successful $15 billion tender offer spearheaded by the private equity firm "Japan Industrial Partners" (JIP). The offer garnered participation from more than half of the company's shareholders, surpassing the threshold required for privatization. At present, JIP maintains a substantial 78.65% ownership stake in Toshiba.

It is noteworthy that JIP intends to retain Toshiba's CEO and its current management team while holding a substantial stake of 78.65% in the company. Established in 1875, Toshiba, a renowned figure in Japan's industrial landscape, had encountered a series of challenges following an accounting scandal in 2015. The decision to delist and transition to private ownership marks a significant turning point, offering Toshiba the opportunity to overcome a decade of adversity and bring to a close its 74-year history as a publicly traded corporation.

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