The board of Toshiba Corporation (TSE:6502) is yet to reach a decision on whether the troubled conglomerate should pursue going private, as talks with investors on the company’s strategic direction continue. The board “has not yet decided on the most appropriate course of action and is continuing to explore feasible strategic alternatives,” Toshiba said on September 8, 2021. Its panel exploring strategic alternatives has been engaged in active dialogue with potential investors, but there are “multiple issues” related to a potential privatization to be resolved, the company said. Toshiba started weighing options including privatization in May 2021 after weeks of takeover discussions sparked by private equity firm CVC Capital Partners Limited’s $21 billion acquisition bid. Investors including 3D Investment Partners have pressured the Japanese energy-to-electronics conglomerate to conduct a full strategic review and explore any serious interest in the company to rebuild shareholder trust. Shares of Toshiba were little changed in early afternoon trading in Tokyo. They have advanced about 5% since the company kicked off the review, saying that it had appointed UBS as financial adviser and that it would consider potential offers.