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Toshiba

Toshiba Corporation
Native name
株式会社東芝
Kabushikigaisha Tōshiba
FormerlyTokyo Shibaura Electric Co., Ltd. (English name 1939–1979; Japanese name 1939–1984)
Company typePrivate
TYO: 6502
IndustryConglomerate
Predecessors
Founded11 July 1875 (1875-07-11)
Founders
  • Tanaka Hisashige (for the Tanaka Seisakusho branch)
  • Takayasu Mitsui (for the Shibuara Seisakusho branch)
  • Miyoshi Shōichi and Fujioka Ichisuke (for the Hakunetsusha/Tokyo Denki branch)
Headquarters
Minato, Tokyo
,
Japan
Area served
Worldwide
Key people
Products
RevenueIncrease ¥3,336.97 billion (FY2021)a[1]
Increase ¥158.94 billion (FY2021)[1]
Increase ¥194.65 billion (FY2021)[1]
Total assetsIncrease ¥3,734.52 billion (FY2021)[1]
Total equityIncrease ¥1,366.66 billion (FY2021)[1]
OwnerJapan Industrial Partners
Number of employees
116,224 (2022)[2]
Subsidiaries
List
  • Toshiba Data Corporation
  • Toshiba Electronic Devices & Storage Corporation
  • Toshiba Digital Solutions Corporation
  • Toshiba Elevator and Building Systems Corporation
  • Toshiba Energy Systems & Solutions Corporation
  • Toshiba Infrastructure Systems & Solutions Corporation
  • Toshiba Plant Systems & Services Corporation
  • Toshiba Trading Inc.
  • Toshiba America, Inc.
  • Toshiba Asia Pacific Pte. Ltd.
  • Toshiba (Australia) Pty Limited.
  • Toshiba (China) Co., Ltd.
  • Toshiba Europe Ltd.
  • Toshiba Gulf FZE
Websiteglobal.toshiba
Footnotes / references
  • a. Fiscal Year 2021 (FY2021) in this article is from 1 April 2021 to 31 March 2022.
  • b. Foundation date for one of the predecessor companies. The current company was established in 1904 as the direct successor of said company and its legal successor was founded in 1939.

Toshiba Corporation (株式会社東芝, Kabushikigaisha Tōshiba, English: /təˈʃiːbə, tɒ-, toʊ-/[3]) is a Japanese multinational electronics company headquartered in Minato, Tokyo. Its diversified products and services include power, industrial and social infrastructure systems, elevators and escalators, electronic components, semiconductors, hard disk drives (HDD), printers, batteries, lighting, as well as IT solutions such as quantum cryptography which has been in development at Cambridge Research Laboratory, Toshiba Europe, located in the United Kingdom, now being commercialised.[4][5][6] It was one of the biggest manufacturers of personal computers, consumer electronics, home appliances, and medical equipment. As a semiconductor company and the inventor of flash memory, Toshiba had been one of the top 10 in the chip industry until its flash memory unit was spun off as Toshiba Memory, later Kioxia, in the late 2010s.[7][8]

The Toshiba name is derived from its former name, Tokyo Shibaura Denki K.K. (Tokyo Shibaura Electric Co., Ltd) which in turn was a 1939 merger between Shibaura Seisaku-sho (founded in 1875) and Tokyo Denki (founded in 1890). The company name was officially changed to Toshiba Corporation in 1978. It was listed on the Tokyo Stock Exchange from 1949 to 2023 where it was a constituent of the Nikkei 225 and TOPIX 100 indices (leaving both in August 2018, but returned to the latter in 2021), and the Nagoya Stock Exchange.

A technology company with a long history and sprawling businesses, Toshiba is a household name in Japan and has long been viewed as a symbol of the country's technological prowess. Its reputation has since been affected following an accounting scandal in 2015 and the bankruptcy of subsidiary energy company Westinghouse in 2017, after which it was forced to shed a number of underperforming businesses, essentially eliminating the company's century-long presence in consumer markets.[9][10][11]

Toshiba announced on 12 November 2021 that it would split into three separate companies, respectively focusing on infrastructure, electronic devices, and all other remaining assets; the latter would retain the Toshiba name. It expected to complete the plan by March 2024,[12] but the plan was challenged by stockholders, and at an extraordinary general meeting on 24 March 2022, they rejected the plan. They also rejected an alternative plan put forward by a large institutional investor that would have had the company search for buyers among private equity firms.[13]

In March 2023, however, the company announced it had accepted a ¥2 trillion ($15 billion) buyout offer from a consortium led by Japan Industrial Partners (JIP), a Tokyo-based private equity firm.[14] On September 27, after the public offering was completed in the middle of that month, it was reported that it would be transferred to a new parent company, TBJH.[15][16]

On 22 December 2023, it was announced that JIP's purchase of the company had been completed.[17] This occurred two days after being delisted.

  1. ^ a b c d e "Consolidated financial results for the fiscal year ended March 31, 2022 (under US GAAP)" (PDF). Toshiba Corporation. Retrieved 28 May 2022.
  2. ^ "基本データ | 会社概要 | 東芝".
  3. ^ Jones, Daniel (2003) [1917], Peter Roach; James Hartmann; Jane Setter (eds.), English Pronouncing Dictionary, Cambridge: Cambridge University Press, ISBN 3-12-539683-2
  4. ^ "TOSHIBA GROUP MANAGEMENT ORGANIZATION CHART" (PDF). Toshiba Corp. 1 April 2020.
  5. ^ "Toshiba to launch quantum cryptography services this year". Nikkei Asian Review. Retrieved 27 July 2020.
  6. ^ "Why Toshiba QKD".
  7. ^ "Toshiba Science Museum : World's First NAND Flash Memory". toshiba-mirai-kagakukan.jp. Retrieved 16 July 2020.
  8. ^ "The History Of Our Memory｜Innovation story｜KIOXIA #FutureMemories". KIOXIA #FutureMemories. Retrieved 16 July 2020.
  9. ^ Cite error: The named reference bbc-20170411 was invoked but never defined (see the help page).
  10. ^ Soble, Jonathan (21 July 2015). "Scandal Upends Toshiba's Lauded Reputation". The New York Times. ISSN 0362-4331. Retrieved 11 July 2020.
  11. ^ Mochizuki, Takashi (5 June 2018). "Toshiba to Close the Book on Its Laptop Unit". The Wall Street Journal. ISSN 0099-9660. Retrieved 27 July 2020.
  12. ^ Cite error: The named reference Breakup - WSJ was invoked but never defined (see the help page).
  13. ^ Lewis, Leo; Slodkowski, Antoni (24 March 2022). "Toshiba shareholders reject management's plan to split company". Financial Times. Archived from the original on 10 December 2022.
  14. ^ Landers, Peter (23 March 2023). "Toshiba Announces $15 Billion Plan to Be Taken Private". Wall Street Journal. Retrieved 23 March 2023.
  15. ^ "Japan's troubled Toshiba to delist after takeover by Japanese consortium succeeds". abcnews. 21 September 2023. Archived from the original on 21 September 2023.
  16. ^ "Toshiba succeeds at selling itself, delisting set for September 27". The Register. 21 September 2023. Archived from the original on 21 September 2023.
  17. ^ "Toshiba Completes $14 Bn Buyout, Identifies Chip Production Priority". BW BusinessWorld. Retrieved 20 January 2024.

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