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Toshiba to change its corporate name to Shibaura

Toshiba to change its corporate name to Shibaura

Japanese injection moulding machine maker Toshiba Machine Co. is to change its corporate name to Shibaura Machine Co. Ltd. effective 1 April 2020. Shareholders approved the change and associated by-laws at a meeting in June 2019. With this move, the Tokyo-headquartered company says it will be returning to its company roots, as it was founded as Shibaura Machine Tool Co. in 1938. In 1961, the company merged with a corporate spin-off to form Toshiba Machine Co.

The change also reflects the formal separation of Toshiba Machine from its former parent company and top shareholder, Toshiba Corp., in March 2017. Toshiba Machine bought back stock owned by its parent company to become an independent entity.

Toshiba Machine President Takahiro Mikami said, “To continue our evolution, our company will change its name to Shibaura Machine and focus on providing customers with greater flexibility and responsiveness. We look forward to continuing our growth and industry-leading contributions to the markets we serve in the future.”

He adds that even though the name is changing, the company’s commitment remains the same. “Our goal as Shibaura Machine is to be a supplier of the highest quality machinery and systems, one that is well-positioned to grow and contribute to the global economy for decades to come,” he said.


(IMA)


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