Toshiba Receives $15.2 Billion Buyout Offer from Japan Consortium Led by Private Equity Firm Japan Industrial Partners, Secured Loans of $10.6 Billion

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Toshiba Receives $15.2 Billion Buyout Offer from Japan Consortium Led by Private Equity Firm Japan Industrial Partners, Secured Loans of $10.6 Billion including from Sumitomo Mitsui Financial Group to Finance Acquisition

11th February 2023 | Hong Kong

Toshiba, the Japanese & world leading innovator in pioneering high technology group, has received a $15.2 billion buyout offer from a Japan consortium led by private equity firm Japan Industrial Partners, which had secured loans of $10.6 billion including from Sumitomo Mitsui Financial Group to finance the acquisition of Toshiba.   Toshiba Reply on $15.2 Billion Buyout Offer (9/2/23): “There have been multiple press reports stating that in relation to the solicitation of proposals regarding strategic alternatives (including privatization) to enhance the corporate value of Toshiba Corporation (the “Company”) (the “Process”), a consortium led by the investment fund Japan Industrial Partners (the “JIP Consortium”) has submitted a final acquisition proposal, but these are not based on any announcement made by the Company.   It is true that the Company has received a proposal from the JIP Consortium, but it has just been received today, and going forward, the Company will assess the proposal and will continue to act in the best interests of the shareholders and other stakeholders of the Company.  Although no assurance can be given regarding the consummation of an agreement at this stage, whether going private or otherwise, with the JIP Consortium or other potential investors and sponsors as potential partners, we promise to you that, whether or not an agreement is reached, upon reaching a final conclusion, the decision of the Board and the reason thereof will be announced to the public without delay.   To date, there have been various media reports on the Process. However, the only official statements regarding the Process are those released by the Company. All other reports are based on market rumors. The Company is not in a position to confirm veracity of them.”

“ Toshiba Receives $15.2 Billion Buyout Offer from Japan Consortium Led by Private Equity Firm Japan Industrial Partners, Secured Loans of $10.6 Billion including from Sumitomo Mitsui Financial Group to Finance Acquisition “

 

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About Japan Industrial Partners, Inc. – Japan Industrial Partners (JIP) is a private equity fund management company established in 2002.  JIP has strong track records in supporting strategic carve-outs that realize growth potential and encourage autonomous growth.  JIP’s main philosophy in investing in Japanese companies is to realize continuous growth of the business by bringing better products and services to the users and customers and by creating a productive and rewarding work place for its employees. 

 

Toshiba History Toshiba Corporation

Toshiba‘s early history has two strands: One is Tanaka Seizo-sho (Tanaka Engineering Works), established in 1882, and based on a factory started by Hisashige Tanaka (1799-1881) in 1875.  Tanaka was well known from his youth for creations that included mechanical dolls and a perpetual clock.  Eventually, under the name Shibaura Seisaku-sho (Shibaura Engineering Works), his company became one of Japan‘s largest manufacturers of heavy electrical apparatus.  The other is Hakunetsu-sha & Co., Ltd. established as Japan’s first manufacturer of incandescent lamps. Subsequent diversification saw the company evolve as a manufacturer of consumer products. In 1899, it became Tokyo Denki (Tokyo Electric Co.).  

In 1939, these two companies, leaders in their respective fields, merged to form an integrated electric equipment manufacturer, Tokyo Shibaura Denki (Tokyo Shibaura Electric Co., Ltd.). The company was soon well known as ‘Toshiba,’ which became its official name in 1978.

 

About Toshiba

Toshiba is a world leader and innovator in pioneering high technology, a diversified manufacturer and marketer of advanced electronic and electrical products spanning from information & communications systems, digital consumer products, electronic devices and components, power systems, to industrial and social infrastructure systems and home appliances. Toshiba Electronics Europe GmbH, Storage Products Division, in Düsseldorf, Germany, markets hard disk drives and aims at consumers and retailers in Europe. For over 50 years, Toshiba has been developing and manufacturing storage solutions used by most major IT and consumer electronics brands.




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    Originally posted on: https://www.caproasia.com/2023/02/11/toshiba-receives-15-2-billion-buyout-offer-from-japan-consortium-led-by-private-equity-firm-japan-industrial-partners-secured-loans-of-10-6-billion-including-from-sumitomo-mitsui-financial-group-to/?utm_source=rss&utm_medium=rss&utm_campaign=toshiba-receives-15-2-billion-buyout-offer-from-japan-consortium-led-by-private-equity-firm-japan-industrial-partners-secured-loans-of-10-6-billion-including-from-sumitomo-mitsui-financial-group-to