Toshiba logos are pictured at Toshiba Corp’s annual general meeting with its shareholders in Tokyo, Japan, June 25, 2021. REUTERS/Kim Kyung-Hoon
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- Only devices business would be split off under new plan
- Shareholder return goal tripled to $2.6 bln over two years
- Elevator and lighting businesses to be put up for sale
- Toshiba Tec unit no longer considered a core business
TOKYO, Feb 7 (Reuters) – Toshiba Corp (6502.T) said it now aims to break up into two companies instead of three and also unveiled a big boost to planned shareholder returns in an effort to appease angry investors.
Its revised plan is still expected, however, to face much pushback from foreign hedge funds, many of whom have been opposed to any kind of split and would prefer that the scandal-ridden Japanese conglomerate be taken private.
Under the new restructuring, Toshiba will just split off its device business,…
