Toshiba is planning to split into three companies by early 2023 as a result of a series of crises at the firm including the ouster of the board’s chairman and a contentious buyout offer. It is said that the three units would focus on infrastructure, devices, and a semiconductor memory.
The company through its spokesman, Tatsuro Oishi said in a report that the option of splitting its business up was under consideration but said nothing had been decided yet.
“We are drafting a mid-term business plan to enhance our corporate value, and dividing our businesses is one of the options, but there is nothing officially decided at this point,”.
The spokesperson said the company will swiftly announce if it decides anything that should be disclosed.
By 2023, Toshiba might split up into three companies and this might be a huge blow to the economy of Japan.
Though Toshiba didn’t disclose much about its plan to split up, the report had it that it will split into three companies and the three units would focus on infrastructure, devices, and semiconductor memory and are expected to be listed, possibly within two years.
The plans to split into three companies are as a result of a series of issues at the firm including the ouster of the board’s chairman and a contentious buyout offer. The split up according to report might be possible in two years – early 2023.
The decision, if confirmed, would cap a period of enormous upheaval for the firm, once a symbol of Japan’s advanced technology and economic power.