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Toshiba in turmoil

Toshiba's breakup marks first split by major Japanese company

Conglomerate aims to improve competitiveness of key units

Toshiba's planned reorganization will see it unbundle its sprawling businesses and make it easier for shareholders to understand each operation. (Photo by Yo Inoue) 

TOKYO -- Toshiba announced on Friday a plan to split itself into three public companies, in a move aimed at sharpening the focus and improving the profitability of key business units.

Under the scheme, announced as part of a medium-term business plan, the infrastructure and electronic device units will be spun off by the end of fiscal 2023 into separate public companies, leaving Toshiba in charge of assets such as computer memory making subsidiary Kioxia.

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