Business / Corporate

Former unit of Toshiba’s PC business aims for IPO in 2021 fiscal year

JIJI

Toshiba Client Solutions Co., a former unit of Toshiba Corp.’s personal computer business that’s now owned by Sharp Corp., is aiming for an initial public stock offering during the 2021 business year, company officials said.

Toshiba Client Solutions wants to create corporate value that ensures a successful IPO, Chairman Yoshihisa Ishida told a news conference in Tokyo on Monday.

The company said it will be renamed Dynabook Inc. next month, using the name of the world’s first notebook PC, which was developed by Toshiba.

The name change is designed to boost the company’s corporate value by utilizing the strength of the Dynabook brand, Ishida said.

Sharp, owned by Taiwan’s Hon Hai Precision Industry Co., acquired Toshiba Client Solutions in October.

Toshiba Client Solutions may join hands with Hon Hai on manufacturing in the future, Ishida said.