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Toshiba in turmoil

Toshiba CEO says two-way split 'best' for shareholders

Industrial conglomerate triples shareholder return

Toshiba CEO Satoshi Tsunakawa speaks during an online conference on Monday. The Japanese conglomerate is revamping its plan to reorganize. (Screenshot from Toshiba's YouTube page) 

TOKYO -- Toshiba announced a new reorganization plan on Monday, splitting itself up into two public companies instead of three, as it tries to line up support from key shareholders in a bid to transform itself into a more dynamic and profitable business group.

Under the new plan, the company's semiconductor businesses that include Japan Semiconductor and Toshiba Electronic Devices & Storage will be spun off for public listing, allowing Toshiba to focus on infrastructure services such as power generation equipment, public transport systems, water supply and sewage systems. The main company will also own computer memory making subsidiary Kioxia and oversee its eventual divestiture.

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