In mid-November, Toshiba announced its intention to separate into three standalone companies. Infrastructure Service Co. will consist of Toshiba’s energy, infrastructure, building, digital and battery businesses. Device Co. will contain Toshiba’s electronics and storage businesses, including its semiconductor products. Toshiba will maintain its name and will hold its ownership stake in Koxia Holdings Corp and Toshiba Tec Corp. This reorganization is expected to be completed by the end of 2023.