Toshiba, a stalwart on the Tokyo stock market for 74 years, faced delisting on Wednesday. This follows years of turmoil and controversies that tarnished one of Japan’s iconic brands. The turmoil led to a takeover, pushing the company into an uncertain future.

The buyout, amounting to $14 billion, is led by private equity firm Japan Industrial Partners (JIP), with support from Orix, Chubu Electric Power, and chipmaker Rohm. This move returns Toshiba to domestic ownership after enduring prolonged clashes with foreign activist investors.

Toshiba expressed its anticipation for a fresh beginning with its new shareholders, emphasizing the need for continual support from stakeholders.

While the company’s future shape remains uncertain, JIP’s backing of Shimada derailed an earlier plan to collaborate with a state-supported fund. Some industry insiders suggest that splitting Toshiba might present a more viable solution.

Given Toshiba’s significant workforce of around 106,000 employees and its critical role in national security operations, Japan’s government will vigilantly monitor the situation.

The new board will witness the inclusion of four JIP executives, alongside representatives from Orix, Chubu Electric, and a senior adviser from Toshiba’s primary lender, Sumitomo Mitsui Financial Group.

Toshiba is already making moves by partnering with Rohm, investing $2.7 billion in joint manufacturing facilities for power chips. Experts emphasize the necessity for Toshiba to exit less profitable sectors and fortify its strategies for cutting-edge technologies.