Toshiba Set to Split Into Two Companies
upstart writes:
Toshiba set to split into two companies:
Toshiba has officially decided to split itself up into two smaller companies after months of internal wrangling.
The two standalone companies, both of which will be publicly traded, will be: Infrastructure Service, which covers energy, transportation, batteries, and other areas; and Device, which covers digital devices, semiconductors, and storage.
As Bloomberg reports, the original plan - which faced opposition from shareholders - was to separate out its infrastructure operations, which will now instead continue under Toshiba.
[...] The iconic Japanese company has been under increasing pressure over recent years after a series of scandals and mismanagement. An expansion into nuclear power, for example, forced the company into selling its crown jewel semiconductor business.
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