Toshiba, the world's third-largest hard disk manufacturer and Japan's 80th largest by market cap, has officially decided to delist. Toshiba's market cap is $14.34B, which is about 18-19 trillion won in Korean currency. In terms of domestic companies, it would be like LG Electronics delisting.
Why are they delisting? The reason is very interesting. "Many shareholders buy and sell stocks for short-term profits, making it difficult to predict the rise and fall of the company's value, making it difficult to establish mid- to long-term business plans and strategies, so they are converting to an unlisted form with less volatility and operating the company with substance . "
In fact, this is not a new story. It has already suffered from accounting fraud incidents in 2015, and has been suffering from poor performance and improper voting rights. Actions for delisting began early this year, and the delisting scheduled for today, December 20, has been confirmed, and JIP (JAPAN INDUSTRIAL PARTNERS INC.) has decided to operate Toshiba with full authority.
Toshiba developed the world's first portable hard disk drive, notebook, etc., and was a company that had a strong presence in the HDD and early memory markets. I expect that this delisting will not be a deterioration in management, but rather a period of preparation for a new leap forward. Personally, I think it is a very healthy decision and it is impressive.
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