ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Business

Toshiba slashing stake in Shibaura Mechatronics

Interest of more than a third will shrink to around 10% as unit moves off balance sheet

| Japan

TOKYO -- Toshiba will offload the bulk of its holdings in Shibaura Mechatronics, a producer of chipmaking equipment, aiming to lighten its balance sheet and regain fiscal health.

The Japanese electronics conglomerate will sell up to 26.54% of Shibaura and retain about 10% under plans announced Monday. This will enable Toshiba to take the equipment maker off its consolidated balance sheet, as it intends to do with a number of noncore operations. Based on Shibaura's Monday closing price of 465 yen, the sale could bring in around 4.8 billion yen ($42.6 million).

Shin-Etsu Chemical unit Shin-Etsu Engineering has agreed to buy a 5% stake. Toshiba consolidated subsidiary NuFlare Technology will purchase up to 3.08% of Shibaura. Up to 16.05% will be sold to investors through SMBC Nikko Securities. The entire process will wrap up by mid-January.

Shibaura plans to work with Shin-Etsu Engineering and NuFlare to expand semiconductor-related operations.

(Nikkei)

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends October 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to Nikkei Asia has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more