The Japanese company “Toshiba” said it will split into three companies, following a campaign by investors to boost the company’s shares, after a period of turmoil and massive setbacks.
The company’s board has approved a plan that would separate two companies from the rest of To-shiba’s operations within two years, one focused on infrastructure and one on hardware.
The company explained that the decision will allow each company to “significantly increase its focus and facilitate decision-making with a lower cost structure,” noting that “this would make companies in a better position to take advantage of their distinct market position, priorities and growth drivers to achieve sustainable profitable growth.”
Toshiba Corporation is a Japanese multinational conglomerate headquartered in Minato, Tokyo. Its diversified products and services include power, industrial and social infrastructure systems, elevators and escalators, electronic components, semiconductors, hard disk drives (HDD), printers, batteries, lighting, as well as IT solutions such as quantum cryptography.
It was one of the biggest manufacturers of personal computers, consumer electronics, home appliances, and medical equipment. As a semiconductor company and the inventor of flash memory, Toshiba had been one of the top 10 in the chip industry until its flash memory unit was spun off as Toshiba Memory, later Kioxia, in the late 2010s.