Toshiba says considering split into three separate units

Nov 09, 2021 | News On Japan

Nov 09, 2021 (Reuters) - Toshiba Corp is considering splitting itself into three companies focused separately on infrastructure, devices and memory chips, a spokesperson said on Monday, a move that could address the Japanese firm's persistent conglomerate discount.

The move is also seen easing pressure from activist shareholders who now make up a large portion of the sprawling Japanese company's investor base. A conglomerate discount refers to investors' tendency to value a diversified group of businesses at less than the sum of the group's parts.

The plan calls for Toshiba to split the three businesses and list each of the companies in a few years, the spokesperson said. The move is one strategic option being considered, the company said in a statement.

Toshiba is in the process of drawing up a new mid-term plan to boost corporate value. The Nikkei newspaper earlier reported that Toshiba would aim to be split by 2023.

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