Toshiba has confirmed a reorganisation of its business structure, laying out plans to split off its four in-house companies into wholly-owned subsidiaries that will include its nuclear energy unit being combined with its energy business. Owing to the deterioration in Toshiba’s finances, the company needs to split out the four business units so it can fulfil requirements to get its license renewed for big construction projects, which have rules on how much capital or shareholder equity a company needs.
FT 24th April 2017 read more »