Toshiba Machine acquires independence from parent
Toshiba Machine Co. Ltd. has purchased the vast majority of its stock back from its former parent company Toshiba Corp., Tokyo, and as a result is no longer a member of the Toshiba Group. Toshiba Corp. had been the largest shareholder with ownership of 20.1 percent of Toshiba Machine’s stock, but sold 90 percent of it back on March 3.
At a formal announcement made at the company’s North American headquarters in Elk Grove Village, Ill., Toshiba Machine CEO Yukio Iimura said the transition has gone well and there has been virtually no impact on its operations, customers or employees, and its stock price at press time was about $490 per share — essentially the same price at which it started the year. Toshiba Machine manufactures injection molding machines, machine tools, extruders, robots and other equipment.