Tokyo, Jun. 2, (dpa/GNA) - Japanese conglomerate Toshiba said Thursday that it has received eight initial proposals for privatization, as well as two initial proposals for business alliances from potential partners.
The proposals are not legally binding.
Toshiba said that after evaluating the proposals, it will select the potential partners to be invited to the final process, as soon as practicable after the 183rd annual general meeting of shareholders scheduled to be held on June 28.
The company noted that after July 2022, it will provide selected potential partners with an opportunity for due diligence, and request them to submit legally binding proposals considering discussions on measures to enhance the company’s corporate value and the certainty of each transaction being actually implemented and proceed with in-depth discussions.
In its investors’ presentation, Toshiba said it expects operating income to be 600 billion yen ($4.6 billion) and net sales of 5 trillion yen for the fiscal year 2030.
It reported an operating income of 159 billion yen and net sales of 3.34 billion yen in the fiscal year 2021.
GNA