Toshiba to go for two-way, not three-way, split

The three-way split would have required the approval of two thirds of the shareholders of whom 30% are foreign and belligerent.

A two-way split only requires the approval of the board.

The three-way split would have been energy and infrastructure, devices including PMICs and flash.

The two-way option involves off-loading the air conditioning business and it has sold its 60% share in its air conditioner jv, Toshiba Carrier to its jv partner for $869 million.

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