Toshiba Plant Systems and Nuflare are constituents of the Japan Special Situations basket
A key element of our strategy in Japan has been the thesis that parent-child subsidiaries will be collapsed by way of either buy-ins or buy-outs.
We have a substantial portion of the portfolio exposed to this theme. We own Toshiba Plant and Nuflare, both subsidiaries of Toshiba Corporation.
This morning Toshiba Corporation issued a press release confirming that they are considering the “possibility of converting the companies into wholly owned subsidiaries.” This is encouraging news.
For the full release, click here.