Japan's Toshiba spins off energy, computer device units
ABC News
Embattled Japanese technology conglomerate Toshiba is restructuring to improve its competitiveness, spinning off its energy infrastructure and computer devices businesses
TOKYO -- Embattled Japanese technology conglomerate Toshiba said Friday it is restructuring to improve its competitiveness, spinning off its energy infrastructure and computer devices businesses.
The energy infrastructure spinoff will include Tokyo-based Toshiba’ Corp.'s nuclear power operations, including the decommissioning efforts at the nuclear plant in Fukushima that suffered meltdowns after an earthquake and tsunami in March 2011.
The energy business will also include the company's sustainable energy and battery businesses. Its annual sales total about 2 trillion yen ($18 billion).
The other spinoff and stand-alone company encompasses Toshiba's computer devices and storage operations, with annual sales of 870 billion yen ($7.6 billion).
