Toshiba may split into three companies by 2023

The management of the Japanese corporation Toshiba plans to split it into three separate companies by 2023. The Nikkei newspaper reported this on Monday with reference to sources, Trend reports referring to TASS.

According to the newspaper, the new companies will accordingly deal with the development of infrastructure, technological devices and components of semiconductor memory. The split plans are linked to the desire of Toshiba’s management to increase its shareholder value through the creation of companies with different sources of income and development strategies, emphasizes Nikkei.

In recent years, the corporation has been experiencing a crisis associated, in particular, with the major scandal that broke out in 2015 due to the falsification of its financial statements, as well as with serious losses that it suffered in 2017 due to the bankruptcy of its American division. Toshiba was also shaken by a conflict between its management and a number of major shareholders.




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