Singapore fund sends letter to Toshiba urging strategic review

3D Investment Partners requests rethink of 'shareholder structure'

3D Investment Partners regards that Toshiba's fair value is over 6500 yen per share. The actual share price was hovering around 4,400 yen as of April 26. (Photo by Yo Inoue)

Nikkei staff writers

April 26, 2021 14:30 JST

TOKYO -- Singapore-based 3D Investment Partners announced on Monday that it has sent an open letter to Toshiba's board requesting an objective review of the company's strategic choices, including its shareholder structure, following a buyout offer from private equity firm CVC Capital Partners.

In response to CVC's proposal to take Toshiba private, the company said in a statement last week that "We currently believe that being a publicly traded company provides a stable equity structure suitable for enhancing long-term value creation."