Toshiba Machine changing name to Shibaura Machine in 2020
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The Japan-based processing machinery maker was founded in 1938 as Shibaura Machine Tool Co.
In a move designed to reconnect with its roots, Japanese processing machinery maker Toshiba Machine Co. Ltd. is changing its name to Shibaura Machine Co. Ltd., effective April 1, 2020.
Toshiba Machine is the parent company of Elk Grove, Ill.-based Toshiba Machine Co., America. Shareholders approved the change and associated by-laws at a meeting in June 2019.
In a statement, Takahiro Mikami, president of Tokyo-based Toshiba Machine, said the new name takes the company back to its roots. “We were founded in 1938 as Shibaura Machine Tool Co.,” he said.
In 1961, the company merged with a corporate spinoff to form Toshiba Machine Co. Ltd.
In March 2017, Toshiba Machine bought back stock owned by its parent to become an independent entity. “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,” Mikami said.
Mikami stressed 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.
Toshiba’s injection molding machines division designs and builds electric, hydraulic and hybrid molding machines ranging from 25 to 4000 tons, and offers a range of specialty molding technologies.