Toshiba Corp (6502.T) announced Friday that its operating profit would fall this year ahead of a $15-billion purchase by a consortium led by private-equity firm Japan Industrial Partners (JIP).
Toshiba anticipated an operational profit of 110 billion yen ($814.51 million) for the year ending March 2024, down from 110.5 billion last year.
Seven Refinitiv analysts predict 166.03 billion yen in operational profit.
Toshiba’s board welcomed the JIP-led group’s 2 trillion yen ($14.81 billion) acquisition offer, potentially ending years of turmoil.
The board has not determined whether to suggest shareholders tender their shares. The 4,620 yen per share offer may not be enough to satisfy shareholders.
In a separate statement on Friday, Toshiba said the management team has “received positive responses from various stakeholders, including many customers, business partners and employees” about the buyout offer.
“The management team concluded there was an expectation that the transaction would help the company build a stable management base, and that the transaction would lead to the enhancement of corporate value of the company, and is therefore working with JIP to complete the transaction quickly,” it said.
