Toshiba Quits Laptop Business, Sells Remaining Stake To Sharp

Toshiba

Japanese tech giant Toshiba, once well-known for its satellite range of laptops meant for heavy use, has finally decided to quit the laptop business. Toshiba has quietly sold its remaining 19.9 percent stake in its Dynabook laptop brand to Sharp, officially exiting the laptop business. The company earlier sold the 80.1 percent stake to Sharp in 2018. “Toshiba Corporation hereby announces that it has transferred the 19.9 percent of the outstanding shares in Dynabook that it held to Sharp Corporation. As a result of this transfer, Dynabook has become a…

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Toshiba stock drops on $5 billion share sale plan

Toshiba’s stock plummeted Monday, after the company announced plans to raise $ 5 billion to avoid being booted off the Tokyo Stock Exchange. Shares in the Japanese firm fell more than 6% in Tokyo, before paring some of those losses to close down 5.8%. The drop comes a day after the troubled conglomerate announced it would sell new shares worth 600 billion yen ($5.4 billion). Toshiba (TOSBF) will issue about 2.3 billion new shares priced at 262.8 yen ($2.35) per share, it said Sunday — about 10% cheaper than Friday’s…

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