From being a role model for technology corporations in the past, Toshiba is now only mentioned in the sales of market share.
According to a report published in the Nikkei, Japan’s high-tech corporation Toshiba Corp is considering an offer to buy more than $ 20 billion from private equity firm CVC Capital Partners.
The incident took place in the context that Toshiba is facing pressure from shareholders to improve its governance.
The value of the CVC deal to buy Toshiba will be based on the memory chip manufacturing division, Toshiba’s only remaining “jewel” in the past, Nikkei reported.
According to Refinitiv, if Toshiba accepts this offer, it will be the largest acquisition by a private equity firm in the Asia-Pacific region this year, while also surpassing the acquisition of the segment. Bain Capital’s Toshiba memory chip in 2018 for $ 18 billion.
Fall of a technological monument
Toshiba is known as a company with a series of “first products” made in Japan, such as the invention of the Radar in 1942, the TAC digital computer in 1954, the semiconductor television and microwave oven in 1959, the electric color screen phone in 1971, laptop in 1986, DVD in 1995, …
In later times, Toshiba is also a pioneer in the technologies of 3D TVs without glasses, and TV with Ultra HD (4K) resolution.
2010 marked the highest peak in Toshiba’s 145 history, as the world’s fifth-largest personal computer company by revenue (behind Hewlett-Packard, Dell, Acer and Lenovo).
However, Toshiba’s business has struggled since the 2015 accounting scandal. From a small fraud, Toshiba fell down and continued to follow the car crash and sink deeper into the mistake.
Since then, the group has had to sell its memory chip division, shut down medical, consumer electronics and home appliances to focus on the energy and industrial infrastructure sectors.