Toshiba Corp. is splitting into two standalone companies, the electronics maker said on Monday, after previously announcing its intention to separate the company into three. The two independent companies, both of which will be publicly traded, will comprise of Toshiba Infrastructure Service, which covers energy, transportation, batteries, and other areas; in addition to Toshiba’s ownership stake in Kioxia Holdings Corp., and Device, which covers digital devices, semiconductors, and storage. If approved, the restructuring will be completed by the second half of the fiscal year 2023. Toshiba said the decision to separate into two companies is the “result of the Toshiba Board of Directors’ continued and thorough review of the strategic reorganization plan and process, as well as the Company’s extensive engagement with shareholders, regulators, and other stakeholders.” It added that the company believes that this decision is the fastest and most effective way to deliver sustainable profitable growth and enhance shareholder value. Toshiba also …