Reuters was first to report that a little-known private equity firm is set to take on the toughest job in corporate Japan: turning around Toshiba. Japan Industrial Partners (JIP) is spearheading a $14 billion takeover that will see the troubled conglomerate delisted on Wednesday after 74 years on the Tokyo exchange.
Deals
In buying Toshiba, a little-known fund takes on Japan Inc’s toughest job
19 December 2023, 6:03 am 1 minute
Market Impact
Shares of aviation equipment maker Nippon Avionics (6946.T) jumped more than sevenfold since JIP carved out the listed NEC (6701.T) subsidiary in 2020. It changed the company’s leadership, revised executive pay to introduce stock-based compensation and started buying back shares.
Article Tags
Topics of Interest: Deals
Type: Reuters Best
Sectors: Mergers & Acquisition
Regions: Asia
Countries: Japan
Win Types: Speed
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
