The Japanese electrical corporation Toshiba, contrary to the previously announced plan, intends to split into two companies. This was done at the request of a number of shareholders who expressed disagreement with the previous program, the Kyodo news agency reported on Monday.

Last November, Toshiba announced its intention to split into three separate companies in fiscal year 2023 (beginning April 1, 2023). One of them would deal with semiconductors and other electronic components, the second - with heavy industrial equipment, in particular for power plants, and the third would manage the property of the entire group. Now, in the interests of savings and more efficient management, it was decided to merge the second and third companies into one.

According to the economic newspaper Nikkei, the separation plans are related to the desire of Toshiba management to increase the capitalization of the entire group by creating companies with different sources of profit generation and development strategies.

In recent years, the corporation has been going through a crisis associated, in particular, with a major scandal that erupted in 2015 due to forgery of financial statements, as well as with serious losses that it suffered in 2017 due to the bankruptcy of the American division. Toshiba was also rocked by conflict between its management and a number of major shareholders.