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MENU Financial Times Sign In Prepare for the year ahead with the FT’s unrivalled insights for leaders. Subscribe and save 50% Opinion Inside Business The Toshiba harbinger for private equity Buyout of the industrial conglomerate will be a test of financing conditions KANA INAGAKIAdd to myFT There is reason for caution as the Toshiba deal unfolds © AFP via Getty Images The Toshiba harbinger for private equity on twitter (opens in a new window) The Toshiba harbinger for private equity on facebook (opens in a new window) The Toshiba harbinger for private equity on linkedin (opens in a new window) The Toshiba harbinger for private equity on whatsapp (opens in a new window) Save Kana Inagaki 14 MINUTES AGO 0 Print this page Receive free Private equity updates We’ll send you a myFT Daily Digest email rounding up the latest Private equity news every morning. For much of last year, global private equity firms were waiting for Japan’s biggest ever take-private deal to materialise with the buyout of Toshiba. Had the 147-year-old industrial conglomerate with its size and national significance put itself in the hands of a firm like Bain Capital, Brookfield or CVC, it would have been a historic moment for private equity’s advance into Asia’s largest advanced economy. Unfortunately, and perhaps not surprisingly for a saga that began with an accounting scandal in 2015, the waiting game continues. All the latest signals suggest that the company’s management is keen to get a deal done with a consortium led by domestic buyout fund Japan Industrial Partners, which was granted the preferred bidder status in October.