Toshiba

Toshiba Group to invest 10 bn Japanese yen in India to increase capacity

Toshiba Group on Thursday said it will invest 10 billion Japanese yen (over Rs 500 crore) to increase the capacity of producing power transmission and distribution equipment in India. Toshiba Transmission & Distribution Systems (India) Pvt Ltd (TTDI) will increase its capacity of manufacturing power transformers and distribution transformers by about 1.5 times compared to FY2023, over a three-year period from FY2024 to FY2026, it stated. Toshiba Group has positioned power T&D as a focus business and will invest about JPY 10 billion (over Rs 500 crore) in TTDI to expand its capacity. Hiroshi Furuta, Chairperson and Managing Director, TTDI, said in the statement, "Furthering our commitment to make-in-India and export-from-India, the new investment will improve operational efficiency, increase speed-to-market, and support in expanding our business in India and overseas." With this investment, TTDI will increase its assembly and test line capacity for distribution transformers ...

Toshiba launches Google TV-based smart TVs in India at Rs 26,999 onwards

The Toshiba C350NP Smart TVs are offered in 43-inch, 50-inch, 55-inch, and 75-inch display options with support for Dolby Vision and Dolby Atmos

Toshiba Unveils Next-Generation QLED TV with Dolby Vision-Atmos Starting at Just Rs. 26,999

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Toshiba to slash 5,000 jobs in Japan in latest bid to restructure: Report

The Tokyo-based company is downsizing noncore businesses and will book a one-time cost of roughly ¥100 billion ($650 million) as a result, Nikkei reported without saying where it got the information

Global corporate landscape 2023: Mergers, closures, and leadership shifts

From acquisitions & mergers to resignations 2023 has been a year of significant milestones in the global corporate world. Here is a recap on all the major event that unfolded in 2023

Toshiba delisted from Tokyo exchange after 74 yrs; future with new owners

The conglomerate is being taken private by a group of investors led by private equity firm Japan Industrial Partners(JIP)

Toshiba to go private as $13.5 billion buyout offer by JIP succeeds

A 2 trillion yen ($14 billion) tender offer for troubled electronics and energy giant Toshiba by a Japanese consortium has been completed, clearing the way for it to be delisted, the company said Thursday. In the tender offer, announced last month and ended Wednesday, the number of shares purchased exceeded the minimum needed, at 78.65%, it said. The switch to Toshiba's new parent company and largest shareholder, called TBJH Inc. will take place on Sept. 27. The move still needs shareholders' approval, and a meeting has been set for November, according to Toshiba. Toshiba will then delist from the Tokyo Stock Exchange within about a month. That will end its more than seven-decade history as a listed company. The purchase price was at 4,620 yen ($31). Toshiba Group will now take a major step toward a new future with a new shareholder, said its chief executive, Taro Shimada. Even after privatization, the company will do the right thing to try boost its value, he added. A sprawling

Competition Comm approves Toshiba Corporation-TBJH deal

Fair trade regulator CCI has approved the proposed deal involving Toshiba Corporation and TBJH Inc, an indirect subsidiary of private equity firm Japan Industrial Partners. The deal has been cleared under the green channel route. The combination relates to TBJH Inc acquiring the complete shareholding of Toshiba Corporation. Toshiba is a Japanese multinational conglomerate. In March, TBJH Inc announced that it will buy out all of Toshiba's shares listed on the Nagoya and Tokyo stock exchanges and take the business private. The Competition Commission of India (CCI) said it has cleared the deal. "The parties (including their affiliates) activities do not exhibit any horizontal, vertical, or complementary overlaps in any of the plausible relevant markets in India. "The proposed combination is being notified under the green channel route," according to an update on CCI's website on Tuesday. Under the green channel route, a transaction which does not raise any risk of an appreciable

Toshiba secures contract from Bengaluru water supply body to manage STPs

Toshiba Water Solutions Private Limited on Tuesday announced it has received a contract from Bangalore Water Supply and Sewerage Board (BWSSB) for design, upgradation, rehabilitation with capacity augmentation. The firm, a subsidiary of Toshiba Infrastructure Systems & Solutions Corporation (TISS), has also secured the contract for operation and maintenance services of three sewage treatment plants (STPs). The agreement is also for the upgradation and rehabilitation of five STPs in Bengaluru. Toshiba Water Solutions chairperson and managing director Hiroaki Kobayashi said that after receiving the contract for TK Halli Water Treatment Plant in 2020, these are the company's second set of contracts with BWSSB. "This order for upgradation, rehabilitation (& capacity augmentation) of and O&M services across three sewage treatment plants and upgradation and rehabilitation across five STPs in Bengaluru is a testimony to our superior Engineering, Procurement and Construction (EPC)

Asia's biggest buyout: Toshiba valued at $16 billion by JIP in takeover bid

A consortium led by Japan Industrial Partners Inc. is considering a takeover of Toshiba Corp. at a valuation of about 2.4 trillion yen ($16.1 billion) in what could be Asia's biggest buyout this year

Toshiba India to supply rechargeable batteries for EVage's electric vans

The Indian unit of Japan's Toshiba will supply its SCiB rechargeable lithium-ion cells for 10,000 electric delivery vans made by Indian start-up EVage, the companies said on Tuesday.

Suzuki Motor Corp's India arms gear up for long electrified journey

TDSG's facility - the first in the country to make batteries with cell-level localisation - has an aggressive export target for the next three years

Japan's Toshiba boosts profit in June qtr on devices, auto sector demand

Toshiba reported a 44 per cent improvement in profit in the last quarter as the Japanese technology giant worked to revamp its brand image and reassure investors about its management.

Japanese tech giant Toshiba's shareholders approve 13 nominations to board

Chief Executive Taro Shimada, who oversaw the annual shareholders' meeting in Tokyo, said the majority had voted to OK that plan

Toshiba stock surges 6.5% on report of bids at $22-billion valuation

Toshiba has been soliciting acquisition offers - and other restructuring proposals - as it seeks to end years of mismanagement and mollify activist investors

Toshiba, Sony, Samsung Electronics lose court fight against EU cartel fine

The European Commission in 2015 fined five firms 116 million euros ($120.5 million)

Tension at Toshiba erupts into public row as directors trade barbs

The rift is the latest in a long-running crisis that has seen management and shareholders locked in a dispute over the future of the company

Tainted by crises and scandals, Toshiba's best option is a leveraged buyout

Having major shareholders Elliott and Farallon on the board makes this reform far more possible than any other option. Foreign investors have previously won big after helping Toshiba out

Japan energy and tech giant Toshiba seeing going private as an option

Toshiba executives on Friday said privatisation remains an option for the Japanese tech company, as they defended their efforts to choose the right bidder to restore what they called a strong Toshiba.

Japan's troubled tech giant Toshiba proposes outside directors to board

Troubled Japanese technology giant Toshiba announced some additions to its proposed leadership on Thursday, ahead of a shareholders' meeting next month. Toshiba Corp. said it seeks to add on the board outside directors, such as Nabeel Bhanji, an executive at Elliott Opportunity II Corp., which handles acquisitions and investments, and Eijiro Imai, a former managing director at Farallon Capital Management, a US investment firm. Also proposed for the board is Akihiro Watanabe, an executive at Houlihan Lockey, a US investment bank. Tokyo-based Toshiba has been trying to win over shareholders to a restructuring plan. Earlier this year, it tapped Taro Shimada, an executive officer and corporate senior vice president, to replace Satoshi Tsunakawa as chief executive. Shimada was an executive at Siemens, both in Japan and the US, before joining Toshiba in 2018, working in its digital operations. In February, Toshiba proposed splitting into two companies, one focused on infrastructure and