(Bloomberg) — Toshiba Corp. said it’s considering considering splitting up the company as one of its strategic options to strengthen shareholder value.
The Nikkei news organization said the Japanese conglomerate is set to divide itself into three companies to focus on infrastructure, devices and semiconductor memory as early as 2023.
“Toshiba is in the process of formulating its next mid-term plan to enhance corporate value, and the company split, as stated in the press report, is one potential strategic option,” a Toshiba spokesperson told Bloomberg in response to the Nikkei report. “However, no definitive decisions have been made by Toshiba as of today. Toshiba will make an announcement if any decision is made that requires disclosure.”
All three of the companies that would be hived off are expected to be listed at some point, the Nikkei said. The move would shore up shareholder value by creating independent companies with different profit structures and growth strategies, according to the report.
Toshiba has been in turmoil with its shareholders over the best direction for the company and whether it should pursue going private.
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