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Daily News

Toshiba Spins Off Firms
Oct 3, 2003
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Toshiba Corp. spun off five major businesses into five subsidiaries on Wednesday to create a profitable and optimized group operating structure that promotes management flexibility, the company said.

Toshiba said the structural changes are part of a 3-year business plan announced in March. The affected businesses include home electric appliances, information technology solutions, medical systems, materials, and components and electron tubes.

Toshiba Consumer Marketing Corp., set up in Tokyo with a capital of 3 billion yen, took over Toshiba's home appliance business and integrated Toshiba Lifestyle-Electronics Corp., a subsidiary that had been undertaking domestic sales of Toshiba appliances.

Toshiba HA Products, capitalized at 2 billion yen, will be in charge of manufacturing the company’s home appliances. (The Japan Times)

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