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Japan’s tech giant Toshiba to split; sell stake in Carrier

AP Business Writer

TOKYO (AP) — Embattled Japanese technology giant Toshiba says it plans to split into two companies, one focused on infrastructure and the other on devices, as it tries to placate unhappy shareholders. Tokyo-based Toshiba Corp. is also selling its joint venture stake in Toshiba Carrier Corp. to the U.S.-based Carrier Group, for about 100 billion yen, or $877 million. Toshiba is also selling Toshiba Elevator and Building Systems Corp. and Toshiba Lighting & Technology Corp. The proposal is still subject to shareholder and regulatory approval. Toshiba scrapped an earlier proposal for a three-way split, which was not popular with some shareholders. 

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