Do we like them?

Do we like Toshiba?

Japanese industrial group: energy systems, infrastructure, power chips and storage devices. Based in Tokyo.

Our score: 5 out of 10. Mixed. Toshiba has a big accounting scandal in its past and a messy decade, and it is now private and rebuilding. We'd want a longer clean record first.

Toshiba was a Japanese household name for 74 years on the Tokyo stock exchange. It was delisted on 20 December 2023, when a consortium led by Japan Industrial Partners took it private. Orix and Chubu Electric Power are also in the group.

The big stain is 2015. Toshiba disclosed accounting malpractice that overstated pretax profit by 230bn yen (about $1.59bn) over seven years. One report says it paid Japan's largest-ever fine for financial statement fraud. We couldn't confirm the amount.

Taro Shimada joined in 2018 and became interim CEO in March 2022, to push through a spin-off plan. After the buyout, JIP planned to keep him on, and the board was filled with members of the consortium. JIP has set a relisting timeline of five years.

In 2026 Toshiba folded its energy and digital-solutions units into the parent. Its chip arm also started sampling SiC power chips for AI data centres. In March it agreed to discuss a possible chip-business tie-up with ROHM and Mitsubishi Electric. No terms are set.