Tagged With "JIP"

Toshiba turmoil update Japan Industrial Partners Inc.(JIP) is considering launching a tender offer for Toshiba Corp. by the end of next March, according to article in the Japan Times newspaper JIP, which holds preferential negotiating rights, plans to procure necessary funds exceeding 2.2 trillion yen ($15.5 billion) by securing investments from over 10 companies and taking out bank loans. aims to accelerate reconstruction of Toshiba by acquiring all its shares from activist and other...

Toshiba turmoil update Nikkei Asian News is reporting that the acquisition of Toshiba by JIP is delayed Apparently Japanese banks may not decide on loans to JIP until mid-December Current buyout proposal puts Toshiba’s value at 2.2 trillion yen Are assessing whether the loans will be redeemed on schedule NHK News is reporting that Toshiba has been told by the banks to sell some of its businesses and assets as a precondition for loans

Toshiba close to being acquired? Bloomberg News is reporting that Toshiba is planning a special committee meeting next week to discuss buyout offer from JIP JIP, aka Japanese Industrial Partners, is a government led group which has been working to gather bank financing Takeover would value Toshiba at $16.2 billion December 18th, 2022 Reporting that JIP is close to securing 1.2 trillion yen from Japanese banks needed to close deal JIP may lower the Toshiba’s valuation from the planned 2.2...

Toshiba acquisition update Bloomberg News is reporting that top Japanese banks area extending the deadline to issue commitment letters for $10 billion loan to allow Japan Industrial Partners (JIP) to acquire Toshiba Some of the JIP members are demanding that JIP pay back the preferred stock portion of their investments before repaying bank loans should a takeover happen The banks of course do not agree with this approach

By Makiko Yamazaki and Mayu Sakoda TOKYO (Reuters) -Japan's Toshiba Corp cut its annual earnings estimate after third-quarter profit slumped and its chief operating officer resigned over the inappropriate use of entertainment expenses. The weak performance and the departure of Goro Yanase come at a time when the scandal-ridden industrial conglomerate is assessing a binding buyout proposal from a consortium led by private equity firm Japan Industrial Partners (JIP). The sluggish results...

Toshiba turmoil update announced it is currently assessing the buyout proposal from JIP reported that its 3rd quarter operating profit was down 88% YoY to 5.4 billion yen ($40.71 million) net sales were down 4.17% to 775 billion yen ($5.84 billion) Retail and Printing Solutions division sales up 11.94% to 130.6 billion yen ($984.47 million) Operating income down 68.03% to 3.9 billion yen ($29.4 million) Announced the resignation of Chief Operating Officer Goro Yanase due to inappropriate use...

Toshiba update Orix Corp., one of the biggest members of the Japan Industrial Partners (JIP) group, is planning to reduce its financial contribution to the group The JIP group had recently made its offer to buy Toshiba Orix, which is becoming wary of the deal, will apparently reduce its commitment from 300 billion yen to only 200 billion yen ($1.48 billion), according to Reuter News Service

Toshiba Corp. accepted a buyout offer from a Japanese consortium, as the iconic conglomerate moved a step closer to ending a troubled chapter in its more-than-140-year history. The Tokyo-based company’s board approved on Thursday a bid of about 2 trillion yen ($15.3 billion) from a group led by domestic private equity firm Japan Industrial Partners Inc., or 4,620 yen per share, it said in a statement. The offer is at about a 9.7% premium to Toshiba’s closing price on Thursday. As the next...

"Seventeen Japanese companies and six domestic financial institutions will participate in the buyout, Toshiba said. Orix Corp., Rohm Co. and Chubu Electric Power Co. are among the firms" Within 12 months these seventeen companies will attempt to get their investments back. Look for non critical core companies to be sold off ASAP.

TOKYO -- Toshiba's board on Thursday voted in favor of a 2 trillion yen ($15.3 billion) buyout led by Japan Industrial Partners (JIP), setting the troubled industrial group on a path to go private if the bid succeeds. The tender offer of 4,620 yen per share requires investors to tender at least two-thirds of outstanding shares to succeed. The Japanese blue chip would later delist from the Tokyo Stock Exchange. The decision marks a milestone in Toshiba's turnaround efforts, which have gone...

Will Ricoh consider buying the print end of the business?

That's a great question! I think if Toshiba Tec went up on the block I would tend to think interested parties would be Epson, HP and maybe Lexmark. I would rate these in order as Lexmark, Epson and then HP. I would tend to think that Epson being a Japanese company would have a better shot. I also believe that Epson could benefit from the direct sales force here in the US and expand their inkjet business worldwide with the purchase

Toshiba’s new owners give plan details Toshiba is now owned by Japan Industrial Partners (JIP) CEO Taro Shimada was interviewed by French newspaper and gave some details on changes coming: “stable shareholder structure” Focus on high margin digital services and quantum technology “Specifically, we intend to further develop each business by better responding to the needs of Toshiba’s customers, implementing growth strategies by developing new technologies” Posted net loss of $344 million for...