Toshiba Thailand promises uninterrupted operations amid Tokyo delisting
Toshiba Thailand Ltd reassured its customers and trade partners that the recent delisting of its parent company, Toshiba Corporation, from the Tokyo Stock Exchange will not affect its business.
The Thai subsidiary said it had “separated its business operation from the Japanese parent several years ago”.
In a statement issued on Friday, Toshiba Thailand said the delisting and takeover of Toshiba Corporation will have no impact on its role as the distributor of Japanese electrical appliances under the Toshiba brand in Thailand.
“Our aim is to still be No 1 in customers’ minds by providing quality products and impressive after-sales services,” the statement said. “Next year, we will celebrate the 55th anniversary of our business in Thailand by rolling out a variety of marketing events, sales promotions and social activities.
“Toshiba Thailand will continue adhering to its motto of ‘bringing positive things to life’ for all Thais and the sustainability of our society,” the statement said.
Toshiba Corporation was delisted on Wednesday (December 20) after 74 years on the Tokyo exchange as one of Japan’s biggest brands of electronic goods.
The company became a private entity in a US$14 billion (483 billion baht) takeover by a consortium of investors led by the private equity firm Japan Industrial Partners (JIP).
JIP also has financial services firm Orix, utility Chubu Electric Power and chipmaker Rohm under its belt.
The delisting of Toshiba Corporation is seen by many as the “end of an era”. Though it is still not clear what shape Toshiba will ultimately take under its new owners, chief executive Taro Shimada, who will stay in his role after the buyout, is expected to focus on high-margin digital services.
Toshiba traces its roots back to a factory set up in 1875, less than a decade after the end of 250 years of Japanese cultural and economic isolation. Then the successor Shibaura Engineering Works merged with the Tokyo Electric Company in 1939 and the entity was renamed Toshiba in 1978.
After surviving the turmoil of World War II, Toshiba’s star rose along with Japan, which became the world’s second-largest economy after the US.
