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Toshiba faced trouble during the 2010s amid a much-publicised accounting scandal that affected its reputation, and the bankruptcy of its subsidiary nuclear energy company Westinghouse in 2017. This forced the conglomerate to shed a number of underperforming businesses, essentially eliminating the company's century-long presence in consumer markets.
Most of that industry has vanished through bankruptcy or mergers and acquisitions. None of the first several entrants (including IBM, who invented the HDD) continue in the industry today. Only three manufacturers have survived—Seagate, Toshiba and Western Digital (WD)—all of which grew at least in part through mergers and acquisitions. [1]
In 2005, BNFL sold the company to Toshiba. The company went bankrupt in 2017 primarily due to ongoing cost overruns at the Vogtle Electric Generating Plant expansion, the first US build of the company's AP1000 design. It emerged from bankruptcy after being purchased by Brookfield Business Partners, a Canadian private
Toshiba said on Thursday that a $14 billion tender offer from private equity firm Japan Industrial Partners (JIP) had ended in success — a deal which paves the way for the embattled industrial ...
The vote will take place at a shareholders' meeting on March 18 and activist investors are estimated to hold about 25% of Toshiba's shares. Proxy adviser ISS backs shareholder proposal for Toshiba ...
Singapore-based Effissimo, which is Toshiba's top shareholder with a 9.9% stake, made the proposal after investor complaints about the last AGM. Top Toshiba shareholder gets further support for ...
On June 1, 2018, due to heavy losses experienced by the bankruptcy of the Westinghouse [which?] subsidiary of former parent company Toshiba over nuclear power plant construction at Vogtle Electric Generating Plant in 2016, Toshiba Memory Corporation (東芝メモリ株式会社, Tōshiba Memori Kabushikigaisha) was spun off from the Toshiba ...
"A major shareholder is incentivized to exercise judgments to maximize interest for the company," Effissimo, which owns 15% of Toshiba, wrote in a letter to the directors that was seen by Reuters.