Toshiba's Delisting Marks New Chapter in Digital Transformation
Toshiba, once a symbol of Japan's dominance in electronics, has delisted from the Tokyo stock exchange, marking the end of its 74-year history. The company's downfall began in 2015 when accounting malpractices were uncovered, leading to overstated profits. Further accounting irregularities and allegations of corporate governance issues followed. Toshiba faced a collapse of its nuclear business and sold off various divisions to raise cash. After protracted battles with activist shareholders, the company confirmed it would be taken over by a group of Japanese investors led by Japan Investment Corp for $14bn. The new owners plan to focus on high-margin digital services, but the future of Toshiba remains uncertain.