Toshiba Corp said it now aims to break up into two companies instead of three and also unveiled a big boost to planned shareholder returns in an effort to appease angry investors.
Shareholder return goal tripled to $2.6 bln over two yearsToshiba Tec unit no longer considered a core businesssaid it now aims to break up into two companies instead of three and also unveiled a big boost to planned shareholder returns in an effort to appease angry investors.
"We have not changed the plan to avoid confrontation with shareholders," CEO Satoshi Tsunakawa told a briefing. An official at a top-15 shareholder, who declined to be identified, told Reuters on Friday when the plan was first flagged that he believed management had changed the plan to "suit themselves".
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