Japanese industrial conglomerate Toshiba Corp is set to outline plans on Friday to break up into three listed companies that will focus on infrastructure, devices and memory chips, sources with knowledge of the matter said, APA reports citing Reuters.
The plan - borne of a strategic review undertaken after a highly damaging corporate governance scandal - is aimed at improving shareholder value and encouraging activist shareholders to exit, they said.
The review calls for its nuclear power and infrastructure-related divisions to be housed under one company while its power chips and hard disk drive divisions would form the backbone of another, said the sources who were not authorised to speak to media and declined to be identified.
The third company will own Toshiba's 40.6% stake in unlisted memory chipmaker Kioxia.
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