Toshiba Machine’s business unaffected by former parent company’s financial troubles

Toshiba Machine Co. Ltd. formally announced this morning that it had bought back 18.1% of the 20.1% total shares of stock owned by Toshiba Corp. on March 3, 2017. “As a result, [Toshiba Corp. is] no longer our top shareholder and we no longer belong to the Toshiba Group,” Toshiba Machine Chairman and CEO Yukio Iimura said at the company’s North American headquarters in Elk Grove Village, IL. The announcement was made “in response to unfounded rumors about Toshiba Machine’s financial soundness following a recent statement by Toshiba Corp., which reported significant losses in its nuclear power business,” said the press release.

The transition for Toshiba Machine has been seamless, added Iimura, with no impact on its operations, customers, shareholders, employees or business partners. The value of Toshiba Machine’s stock also reportedly was not affected by the news. It is currently trending on a par with 2014, one of the company’s best years, said the release.

Toshiba Machine supplies global markets with injection molding machines, machine tools, die-casting machines, extruders, robotics and high-precision machines. It employs more than 3300 professionals worldwide. 

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