Toshiba Corporation has announced it will be splitting itself up into three standalone companies -- Infrastructure Service Co, Device Co, and Toshiba -- in hopes that will help deliver sustainable profit growth as well as enhance shareholder value and trust.

The company outlined Infrastructure Service Co will consist of Toshiba's energy systems, infrastructure systems, building solutions, and digital solutions businesses. 

Its products and services will include IT solutions for government agencies and private companies, power generation, transmission and distribution, renewable energy, energy management, systems solutions for public infrastructure, railways and industry, and building energy-saving solutions.  

Device Co, meanwhile, will comprise Toshiba's electronic devices and storage solutions business where its products will include power semiconductors, optical semiconductors, analog integrated circuits, high-capacity hard disk drives for data centres, and semiconductor manufacturing equipment.

As for Toshiba, it will hold shares in Kioxia Holdings Corporation (KHC) and Toshiba Tec Corporation. As part of the separation, Toshiba will convert the shares of KHC into cash.

Toshiba added for FY21, it expects Infrastructure Service Co will deliver net sales of