Toshiba Officially Announces Split into Three Companies Including Device and Infrastructure Services
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[Asia Economy Reporter Jeong Dong-hoon] Japanese company Toshiba will be split into three corporations.
According to the announcement made by Toshiba on the 12th, Toshiba will divide its business into 'Infrastructure Services,' which handles power generation and other areas, and 'Devices,' which includes hard disk drives (HDD). The names of the two split companies have not yet been decided. They aim to be listed in the second half of 2023.
The current Toshiba corporation will remain as a company managing the semiconductor giant Kioxia Holdings (formerly Toshiba Memory), in which it holds a 40% stake, and the listed subsidiary Toshiba Tec. Accordingly, Toshiba will be divided into three companies from the existing one.
Toshiba plans to allocate shares of the two newly launched split companies to existing shareholders.
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For the fiscal year 2020, Toshiba's total sales amounted to 3.0543 trillion yen (approximately 32 trillion won). The total number of employees reaches 117,300.
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