Complex sentence: Even after reducing costs, they continued to suffer from chronic deficits and as a result the government decided to privatize Tomioka Silk Mill and transferred its business to the Mitsui Finance Group in 1893.
Split into simpler sentences: Even after reducing costs, they continued to suffer from chronic deficits. As a result the government decided to privatize Tomioka Silk Mill and transferred its business to the Mitsui Finance Group in 1893.