Japan Private-Sector Growth Slows as Domestic Demand Weakens 
Tencent Launches TenPayGo Payment App for Foreign Tourists in China 
H&M Q3 Profit Beats Estimates as Margins Improve 
Gold Prices Fall as Treasury Yields Rise on Fed Rate Hike Bets 
JPMorgan Names Lavatelli Japan Chief in Leadership Shake-Up 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Oil Prices Ease as Iran Tensions Clash With Diplomacy Hopes 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
Dollar Hits Two-Month High as Fed Rate Hike Bets Rise 
SoftBank Raises $11.1 Billion in Bond Sale to Fund OpenAI Investment 
Paramount Skydance Faces $30 Million Film Penalty in Warner Bros. Deal 
US Stock Futures Rise as Meta Muse Fuels AI Rally 
European Stocks Slip as Iran Tensions Offset Strong Eurozone Data 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
BMW 2028 Margin Target Could Fall Below Consensus, UBS Says 
OpenAI Urges US-Led Global Standards for Frontier AI 
Add as a preferred source on Google
Toshiba was revealed to have proposed to divide the company into three separate businesses. The plans were outlined on Friday, Nov. 12, but the firm's top investor, Effissimo Capital Management, said it had not made a decision yet regarding the matter.
The said investor has yet to announce if it will be backing Toshiba's plans to break up into three companies or not. According to Reuters, the proposal was forwarded as the company attempts to soothe activist shareholders who are calling for Toshiba to be overhauled after being continuously hit by scandals for years.
Effissimo Capital is based in Singapore and it owns a 9.9 percent share in the Japanee company. It was reported that Toshiba issued a statement after a Japanese broadcaster said a source from the SG-based financial and investment said the firm would not be supporting the plans.
It was said that Effissimo would reveal its decision on the proposal at next year's Toshiba extraordinary shareholders meeting. The fund said it would make its decision after sincere considerations appertaining to the analysis of disclosed information and engagement with the company.
In an emailed statement, Toshiba did issue a reply to Effissimo's statement but said, "We hope to hear sincere opinions from shareholders after we explain thoroughly to seek their understanding about the plans."
At any rate, CNN Business reported that Toshiba Corp's plan is to divide the company into three independent ventures. Two core businesses will be spun off and these are its energy and infrastructure business and its device and storage biz. This proposal was formed after a five-month strategic review following a series of damaging corporate scandals.
The Japanese firm said it thinks the division is the best route to take to improve shareholder value. "The decision allows each business to significantly increase its focus and facilitate more agile decision-making and leaner cost structures," Toshiba said.
Meanwhile, Toshiba is looking forward to the fulfillment of the plan and hoping to complete the reorganization of the company by the third or fourth quarter of the 2023 financial year.
