Manama, June 3 (BNA) Toshiba executives said on Friday that privatization remains an option for the Japanese technology company, as they defended their efforts to select the right bidder to reclaim what they described as “strong Toshiba”.
Tokyo-based Toshiba is trying to win over shareholders for its restructuring plan, according to the Associated Press.
The company did not provide the nationalities or any other details of potential investor partners, including eight that recommended Toshiba Corp go private.
Toshiba President Jerry Black stressed in an online press conference that how bidders’ bids will be evaluated will be transparent to all stakeholders.
Black told reporters that the goal is for Toshiba to go through what he called a “radical transformation” quickly, to show clear direction and leadership.
In March, investors rejected a company-backed reform proposal to split Toshiba into two companies.
Some shareholders, including foreign investment funds and the US-based advisory services firm, opposed the plan. An earlier plan that was also scrapped had called for a tripartite division.
Black, who has experience in international consulting and coping with struggling Japanese companies, and Taro Shimada, a former CEO at Siemens, were trying to come up with another plan.
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