Toshiba plans spin-offs to speed reconstruction process
the-japan-news.com -- Apr 20
Toshiba Corp., which is undergoing business reconstruction, intends to spin off its main businesses, such as social infrastructure and energy, it was learned Tuesday.

Toshiba aims to speed up the decision-making process in each of its business areas so that reconstruction of its management can proceed more quickly.

Under the current plan, four businesses will be spun off: social infrastructure; energy such as thermal power plants; electronic devices other than memory chips; and ICT solutions, which mainly handle internet of things (IoT) products.

Toshiba's memory chips business was already spun off on April 1.

The separation of the four business areas may result in the transfer of about 20,000 employees to new companies, or about 80 percent of Toshiba's current staff.

News source: the-japan-news.com
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