I have been following and interviewing Toshiba since its financial fraud scandal broke in 2015. Then a series of events happened. The first was the bankruptcy of Westinghouse Electric Company, an American nuclear electronics company. Then, Toshiba was exposed to dredge the officials of the Ministry of Economy, Trade and Industry of Japan to fight against shareholders with a right to speak, exposing the black box operation of the management. There is also the dispute over the company's spin-off and the fact that major shareholders asked Toshiba to "sell out". All of this stems from Toshiba's "perfunctory business management." First of all, let's take a look at how Toshiba has been "perfunctory" and struggling in the quagmire in the past year.
Then, let's review how the "perfunctory" has been "perfunctory" one after another from the financial fraud scandal to the bankruptcy of Westinghouse Electric Company. Toshiba actually had several opportunities to make a comeback. But because it has not tried number list to fundamentally solve the problem, it has even fallen to such a point. Let's sort out the process. 'Acquisition Proposal' Report Causes Operational Disruption One year ago, on April 7, 2021, the Nikkei reported on its online edition and newspaper that "a British fund company made a takeover proposal to Toshiba". The content is that the British fund company wants to acquire all the shares of Toshiba and "privatize" it.
Regarding this report, Toshiba's then-president Chetani Masaki said in the morning that "the company is researching." Since then, Toshiba has had a "perfunctory year". Chetani Masaki, after retiring from Sumitomo Mitsui Banking Corporation as a vice president, served as the head of the Japanese branch of the British fund company mentioned in the "Nihon Keizai Shimbun" report, and then entered the Toshiba Corporation as the president, and was entrusted with reconstruction. The task of revival has been three years. Che Gu Changzhao was recruited by Toshiba, apparently related to his experience as a fund company executive. However, he failed to establish a good working relationship with those fund shareholders who have the right to speak, and he fell into trouble.