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    6502   JP3592200004

TOSHIBA CORPORATION

(6502)
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Toshiba : Comment by the Chair of Toshiba's Board on the Acquisition Proposal

04/09/2021 | 02:50am EDT

Osamu Nagayama, Chairperson of the Board of Directors of Toshiba Corporation (TOKYO:6502) has commented on the acquisition proposal from CVC Capital Partners as below.

As announced in the public statement dated April 7th, Toshiba has received a preliminary and non-legally binding initial proposal from CVC Capital Partners (CVC) regarding the acquisition of Toshiba and to get the same privatized. This initial proposal by CVC was completely unsolicited and not initiated by Toshiba by all means. The proposal does not go through detailed review of Toshiba business.

Further, CVC’s initial proposal is conditional on a variety of matters such as clearances of the Anti-trust registrations of the relevant jurisdictions, the Foreign Exchange and Foreign Trade Act of Japan and necessary financing. Furthermore, the proposed transaction is not contemplated to be financed by CVC alone; rather, it is indicated in CVC’s proposal that it would seek financing assistance from certain co-investors and financial institutions in pursuing the proposed transaction. We expect that such financing process would require a substantial amount of time and involve complexity for consideration.

It is the Board’s responsibility to act for the benefit of the best interests of the Company and our shareholders. Toshiba Board will conduct careful review of the initial proposal when it is further clarified in the future.


© Business Wire 2021
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Financials
Sales 2021 3 076 B 28 328 M 28 328 M
Net income 2021 84 063 M 774 M 774 M
Net Debt 2021 70 157 M 646 M 646 M
P/E ratio 2021 24,4x
Yield 2021 1,08%
Capitalization 2 063 B 19 003 M 18 996 M
EV / Sales 2021 0,69x
EV / Sales 2022 0,66x
Nbr of Employees 125 648
Free-Float 93,4%
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 4 578,18 JPY
Last Close Price 4 545,00 JPY
Spread / Highest target 18,4%
Spread / Average Target 0,73%
Spread / Lowest Target -13,5%
EPS Revisions
Managers and Directors
NameTitle
Masayoshi Hirata Chief Financial Officer & Head-Accounting
Satoshi Tsunakawa President & Chief Executive Officer
Keiichi Yumita Head-Information Systems
Yutaka Sata Vice President-Research & Development
Yoshimitsu Kobayashi Independent Outside Director
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