Japan – Skadden Advises Toshiba Corp. In Its Proposed Restructuring.

17 November 2021
 

Skadden advised Toshiba Corporation in its proposed restructuring into three separate businesses. Under the announced plans, Toshiba's infrastructure and electronic device units will be spun off by the end of fiscal 2023 into separate public companies, with the remaining company holding stakes in chipmaker Kioxia Holdings Corp. and Toshiba Tec Corp, as well as other assets including Toshiba brands. The proposal represents a first for a major Japanese company of such size and importance. Skadden advised on the US legal aspects of the proposed spin-offs.

 

The Skadden team was led by partners Mitsuhiro Kamiya (Tokyo), Kenji Taneda (Tokyo), Adrian Deitz (Sydney), and Michael Hoffman (New York), with Of Counsel Andrew Brady (Washington, D.C.), Asia Pacific Counsel Ken Kiyota (Tokyo) and associate Yuki Hirai (Tokyo). Partners Eben Colby (Boston) and Daniel Michael (New York) provided advice on litigation and SEC enforcement matters, and Capital Markets Regulatory Counsel Pallas Comnenos (New York) provided support on blue sky matters.