SLMG Beverages Eyes Price Hikes Amid Rising Packaging Costs and India's Booming Soft Drink Market 
AWS Bahrain Region Disrupted by Drone Activity Amid Middle East Conflict 
OpenAI Pulls the Plug on Sora, Ending $1 Billion Disney Partnership 
Bank of Japan Officials Signal Continued Interest Rate Hikes Amid Inflation Concerns 
Bank of Japan Unveils New Inflation Gauge to Support Case for Future Rate Hikes 
Goldman Sachs Raises ECB Rate Hike Forecast Amid Persistent Energy-Driven Inflation 
Trump Tariffs Show Minimal Economic Impact but Boost Federal Revenue, Study Finds 
Google's TurboQuant Algorithm Sends Memory Chip Stocks Tumbling 
Explosion and Fire Erupt at Valero Oil Refinery in Port Arthur, Texas 
Lynas Rare Earths Signs Vietnam Deal with LS Eco Energy to Boost Magnet Metal Production 
Japan Eyes Oil Futures Intervention to Stabilize Yen Amid Middle East Crisis 
Citi Names Eric Farina and Rob Cascarino to Lead Global Infrastructure Financing Group 
Gold Prices Surge on U.S.-Iran Ceasefire Reports 
WTO Reform Talks Begin in Cameroon Amid Global Trade Tensions 
9 Tips for Avoiding Tax Season Cyber Scams 
Middle East War Rattles Global Markets as Oil Tops $100 and Dollar Surges 
Oil Prices Plunge Over 6% as Middle East Ceasefire Hopes Ease Supply Fears 
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.
