Toshiba Machine Co. Ltd. of Japan has announced that it will change its corporate name to Shibaura Machine Co. Ltd. effective April 1, 2020. Toshiba Machine is the parent company of Toshiba Machine Co., America. Shareholders approved the change and associated by-laws at a meeting in June 2019.
Shibaura is a core part of Toshiba Machine’s history, said the company in a press release. “We were founded in 1938 as Shibaura Machine Tool Co.,” said Toshiba Machine President Takahiro Mikami. In 1961, the company merged with a corporate spinoff to form Toshiba Machine Co. Ltd.
In March 2017, Toshiba Machine bought back stock owned by its parent to become an independent entity. “To continue our evolution, our company will change its name to Shibaura Machine and focus on providing customers with greater flexibility and responsiveness. We look forward to continuing our growth and industry-leading contributions to the markets we serve in the future,” he said.
Mikami stressed that, even though the name is changing, the company’s commitment remains the same. “Our goal as Shibaura Machine is to be a supplier of the highest quality machinery and systems, one that is well-positioned to grow and contribute to the global economy for decades to come,” he said.