Toshiba Corporation

Toshiba Corporation (TYO: 6502) is a Japanese manufacturer of electrical and electronic products. The company was listed on the Tokyo and Nagoya stock exchanges, but it was delisted in December 2023 following a private takeover. Toshiba generated a revenue of JPY 3.4 trillion (~USD 25 billion) in FY2023 (year ended March 31, 2023). The company had ~45,000 patents registered under its name as of March 2023. 

Toshiba operates through seven key business domains: 1) Energy Systems and Solutions , which includes power generation systems and renewable energy systems; 2) Building Solutions , which includes escalators, elevators, and lighting equipment; 3) Electronic Devices and Storage Solutions , which includes semiconductors and large-capacity hard disk drives; 4) Battery Business , which includes battery cells and modules; 5) Infrastructure Systems and Solutions , which offers products and services as well as systems to support the maintenance of utility infrastructure; 6) Retail and Printing Solutions , which develops multifunction peripherals, POS systems, etc.; and 7) Digital Solutions , which uses digital technologies, including AI and IoT, to offer solutions to businesses and industries.

Toshiba’s largest market was Japan (~53% of total net sales in FY2023) followed by the rest of Asia (~23%). Toshiba expects net sales to decline by 5%, falling to JPY 3.2 trillion in FY2024, largely because of contractions in the Energy Systems and Solutions and the Building Solutions segments. Toshiba aims to achieve carbon neutrality across the group’s value chain by 2050 and reduce its greenhouse gas emissions by 70% by FY2030 compared with the FY2019 base line. In September 2023, Toshiba announced a USD 14 billion deal with a private equity firm-led consortium to purchase almost 79% of its shares, enabling the group to complete a deal to take it private.