Toshiba has changed its division plan

Toshiba announced that it has decided to divide into 2 instead of 3 after the reactions from the shareholders. As part of the new restructuring, the company will split into the semiconductor unit and electronic device division. The statement stated that the split into two companies would be less costly and easier than the original division plan. Shares of computer memory maker Kioxia Holdings will remain in Toshiba. The electronic device unit Toshiba Technology Corporation will not be one of the parent companies, but it has been announced that the sale of shares is not considered. The company announced in November that it would split into three different companies: infrastructure, electronics, and semiconductors. But the company's largest shareholders opposed this division plan. Toshiba shares rose 4.5 percent after the news. Toshiba Technology, on the other hand, recorded the biggest increase since 2016, with 15 percent. Toshiba has been in crisis over the past few years due to various scandals and management errors.