Toshiba, Like GE, Plans to Split Into Three Parts

One of the three units will focus on infrastructure and another on electronic devices such as power semiconductors, Toshiba said. The third, which will retain the Toshiba name, will manage the company’s stake in flash-memory company Kioxia Holdings Corp. and other assets, it said.

The move resembles GE’s decision on Tuesday to break itself into three, which itself followed the gradual breakup of Germany’s

Siemens AG

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The decision may not fully satisfy foreign shareholders, some of whom have called for Toshiba to be sold to a private-equity firm that would probably be more aggressive about breaking up the conglomerate.

Compared with GE’s three focused parts—power systems, medical devices and aircraft engines—the proposed three parts of Toshiba will each consist of diverse businesses that don’t have obvious synergies. The infrastructure unit will include products and services such as water treatment, trains, power turbines and nuclear-plant maintenance.

Write to Megumi Fujikawa at megumi.fujikawa@wsj.com