Toshiba Plans to Split Into Three After Wave of Scandals

Toshiba Plans to Split Into Three After Wave of Scandals
The logo of Toshiba Corp. is seen at the company's facility in Kawasaki, Japan, on June 10, 2021. Kim Kyung-Hoon/Reuters
Reuters
Updated:

TOKYO—Toshiba Corp. outlined plans on Friday to split into three companies in an attempt to appease activist shareholders calling for a radical overhaul of the Japanese conglomerate after years of scandals.

A rare move in a country dominated by conglomerates, Toshiba’s breakup comes the same week U.S. industrial powerhouse General Electric called time on its sprawling empire and Johnson & Johnson announced it was splitting up too.