TOKYO – Whether by luck or skillful policy telegraphing, new Prime Minister Fumio Kishida is already presiding over one of the biggest Japan Inc restructurings in years.
Toshiba, the 146-year-old Japan corporate icon, may become the nation’s first publicly traded behemoth to break itself up into three fully independent units dedicated separately to infrastructure, devices and semiconductor memory.
The move, aimed at competing on the global stage, is exactly the type of disruption Japan needs more of. And it’s sure to send shockwaves through the world’s third-largest economy.
Top-down, change-adverse Japan Inc loves a precedent. None arguably matters more than one of its oldest and most celebrated global brands getting under the hood to recalibrate its growth engines.