ELK GROVE VILLAGE, Ill., April 19, 2017 /PRNewswire/ — On March 3, Toshiba Machine Co., Ltd. of Japan bought back 18.1% of the 20.1% of total shares of stock owned by Toshiba Corp., their previous parent company and top shareholder. “As a result, they are no longer our top shareholder and we no longer belong to the Toshiba Group,” said Toshiba Machine Chairman and CEO Yukio Iimura during a formal announcement this morning at the company’s North American headquarters in Elk Grove Village, IL.
This formal announcement was made in response to unfounded rumors about Toshiba Machine’s financial soundness following a recent statement by Toshiba Corp., which reported significant losses in its nuclear power business.
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