Here's How Toshiba Looks To Restructure Itself
- Toshiba Corp (OTC: TOSYY) looks to divide itself into two companies and sell non-core assets.
- The Japanese tech giant scrapped its initial three-way split that faced fierce criticism from activist shareholders, Bloomberg reports.
- Toshiba aims to spin off the devices business, including semiconductors, and list it.
- Related Content: Toshiba To Invest $1B To Drive Chip Production
- Toshiba looks to sell its joint venture stake in Toshiba Carrier Corporation to the Carrier Group for ~¥100 billion.
- Toshiba also aims to divest Toshiba Elevator and Building Systems Corporation and Toshiba Lighting & Technology Corporation.
- Toshiba has designated Toshiba Tec Corporation as a non-core business.
- Toshiba dumped an earlier plan to separate its infrastructure operations.
- Splitting into two companies would be cheaper and smoother than the original plan.
- Toshiba aims to return over ¥300 billion to the shareholders over the next two years.
- Price Action: TOSYY shares traded higher by 0.92% at $20.78 in the premarket session on the last check Monday.
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