TOKYO -- Less than three months after announcing a plan to split itself into three companies, Toshiba has already reworked it in hopes of winning over wary investors. But the Japanese industrial conglomerate may have missed the mark again.
Toshiba said Monday that it would form two stand-alone companies, spinning off its devices and storage solutions business while keeping infrastructure services, which would have been split off under the proposal announced in November. It will also return 300 billion yen ($2.6 billion) to shareholders over two years -- triple its previous proposal.
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