Thursday 20 April 2017

Japanese heavy machine manufacturer Toshiba Machine Co., Ltd. of Japan has bought back 18.1% of the 20.1% of total shares of stock owned by Japanese conglomerate Toshiba Corp., its previous parent company and top shareholder, the company said.
As a result, Toshiba Corp is no longer Toshiba Machine's top shareholder and Toshiba Machine no longer belong to the Toshiba Group. This formal announcement was made in response to rumors about Toshiba Machine's financial soundness following a recent statement by Toshiba Corp., which reported significant losses in its nuclear power business.