Inactive Instrument

Toshiba

Equities

6502

JP3592200004

Toshiba : shares rise 6 percent after Effissimo increases stake

March 23, 2017 at 10:22 pm EDT

TOKYO (Reuters) - Shares in Toshiba Corp rose as much as 6 percent on Friday morning trade after Singapore-based fund Effissimo, established by former colleagues of Japan's most famous activist investor, became its largest shareholder.

Effissimo Capital Management, set up by Yoshiaki Murakami, owns an 8.14 percent stake in Toshiba, according to a regulatory filing showed on Thursday.

The activist fund's emergence as the biggest shareholder came as the electronics conglomerate struggles with huge losses stemming from its U.S. nuclear business.

(Reporting by Junko Fujita; Editing by Richard Pullin)

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Company Profile

Toshiba Corp is a Japan-based company mainly engaged in energy system solutions business and other businesses. The Company operates in six business segments. The Energy System Solutions segment provides thermal power generation systems, nuclear power generation systems and hydroelectric power generation systems. The Infrastructure System Solutions segment provides water and sewage systems, broadcasting systems, radio equipment, environmental systems, road systems, transportation equipment, and battery systems. The Retail & Printing Solutions segment provides point-of-sale (POS) systems, multifunction devices. The Storage & Device Solutions segment provides power devices, small signal devices, optical semiconductors, mixed signal integrated circuits (ICs), hard disk drives (HDDs), semiconductor manufacturing equipment. The Industrial ICT Solutions segment provides information technology (IT) solution services. The Others segment provides logistics services.

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