Toshiba plans to split into 2 firms instead of 3 after opposition

Toshiba Corp. said Monday it now seeks to divide into two listed companies instead of three after its initial restructuring plan drew stiff opposition from activist shareholders calling for an increase in corporate value.Toshiba, a Japanese household name with a nearly 150-year history, said the revision of the original plan, disclosed three months ago, aims to cut costs associated with the reorganization and ensure stability in its finances.Under the new plan, the industrial conglomerate will only spin off its device business, including its semiconductor and hard disk drive segments, while…READ FULL ARTICLE