Toshiba recently announced that it has made the decision to break up its business into three standalone entities. Those companies will be Infrastructure Service Co., Device Co., and Toshiba.
In regards to their functions, Infrastructure Service Co. will be tasked with the handling of Toshiba’s energy systems, infrastructure systems, building solutions, and digital solution businesses. In the grand scheme of things, this particular business arm will provide solutions for both government and private companies, in the fields of IT, power generation, transmission and distribution, renewable energy, systems solutions for public infrastructure, railways and industry, and building and energy-saving solutions.
Moving on to Device Co., the company will be responsible for Toshiba’s electronic devices and storage solutions. To that end, its products line will include power semiconductors, optical semiconductors, analog integrated circuits, high-capacity HDDs, and semiconductor manufacturing equipment.
Lastly, the self-titled Toshiba company will be holding the shares in Kioxia Holdings Corporation (KHC) and Toshiba Tec Corporation. Further, and in line with the new separation, Toshiba will be converting its Kioxia shares in cash.
Toshiba’s decision to break up its body comes after a unanimous vote by its board of directors and is reportedly part of a plan that had long been formulated by a review committee. It also comes after months of internal disputes that includes the ousting of its former chairman, Osamu Nagayama, and another member of its audit committee back during its annual general meeting.
It’s also not been a good year for the company, financial or security-wise, the latter related to an alleged cyberattack on its European business back in May this year.
(Source: ZDNet)
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