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Fujitsu and Toshiba Complete HDD Business Transfer
Fujitsu Limited,Toshiba Corporation
Tokyo, October 01, 2009
Fujitsu Limited and Toshiba Corporation announced today that they have completed the transfer of Fujitsu's hard disk drive (HDD) business to Toshiba.
On April 30, 2009, Fujitsu and Toshiba announced the conclusion of a definitive agreement on the transfer of Fujitsu's HDD business to Toshiba, based on a memorandum of understanding signed February 17, 2009. The companies have now carried out all necessary procedures and today completed the transfer.
As previously announced, Fujitsu's HDD-related business and functions will be transferred to a new company, Toshiba Storage Device Corporation (TSDC). Toshiba has acquired a stake of approximately 80 percent in TSDC and made it a Toshiba Group subsidiary. Fujitsu will hold interest of slightly less than 20 percent in the company for a certain period of time in order to facilitate the business transfer, after which Fujitsu will transfer its stake to Toshiba and TSDC will become a wholly owned subsidiary of Toshiba.
Outlines of New Companies
| 1. |
Company name: |
Toshiba Storage Device Corporation (TSDC) |
| 2. |
Capital: |
350 million yen |
| 3. |
Shareholding ratio: |
Toshiba Corporation 80.1%
Fujitsu Limited 19.9% |
| 4. |
President: |
Kazuyoshi Yamamori |
| 5. |
Location: |
1-1, Shibaura 1-Chome, Minato-ku, Tokyo, Japan |
| 6. |
Employees: |
approx. 1,000 |
| 1. |
Company name: |
Toshiba Storage Device Yamagata Corporation (TSDY) |
| 2. |
Capital: |
10 million yen |
| 3. |
Shareholding ratio: |
TSDC, 100% |
| 4. |
President: |
Hiroshi Okamura |
| 5. |
Location: |
5400-2, Ooaza Higashine Kou, Higashine City, Yamagata, Japan |
| 6. |
Employees: |
approx. 100 |
| 1. |
Company name: |
Toshiba Storage Device (Philippines), Inc. (TSDP) |
| 2. |
Capital: |
US$ 113.3 million (approx. 11.3 billion yen) |
| 3. |
Shareholding ratio: |
TSDC, 100% |
| 4. |
President: |
Isao Morita |
| 5. |
Location: |
Carmelray Industrial Park, Canlubang, Calamba, Laguna, Philippines |
| 6. |
Employees: |
approx. 3,000 |
| 1. |
Company name: |
Toshiba Storage Device (Thailand) Co., Ltd. (TSDT) |
| 2. |
Capital: |
1 billion baht (approx. 3 billion yen) |
| 3. |
Shareholding ratio: |
TSDC, 100% |
| 4. |
President: |
Minoru Iriko |
| 5. |
Location: |
60/90
(Navanakorn Industrial Estate Zone 3) Moo 19, Phaholyothin Rd., Klongluang, Pathumthani 12120, Thailand |
| 6. |
Employees: |
approx. 3,900 |
About Fujitsu
Fujitsu is a leading provider of IT-based business solutions for the global marketplace. With approximately 175,000 employees supporting customers in 70 countries, Fujitsu combines a worldwide corps of systems and services experts with highly reliable computing and communications products and advanced microelectronics to deliver added value to customers. Headquartered in Tokyo, Fujitsu Limited (TSE:6702) reported consolidated revenues of 4.6 trillion yen (US$47 billion) for the fiscal year ended March 31, 2009. For more information, please see: www.fujitsu.com.
About Toshiba
Toshiba is a world leader and innovator in pioneering high technology, a diversified manufacturer and marketer of advanced electronic and electrical products spanning information & communications systems; digital consumer products; electronic devices and components; power systems, including nuclear energy; industrial and social infrastructure systems; and home appliances. Toshiba was founded in 1875, and today operates a global network of more than 730 companies, with 199,000 employees worldwide and annual sales surpassing US$67 billion. Visit Toshiba's web site at www.toshiba.co.jp/index.htm
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Company:Fujitsu Limited
All other company or product names mentioned herein are trademarks or registered trademarks of their respective owners. Information provided in this press release is accurate at time of publication and is subject to change without advance notice.
Date: 01 October, 2009
City: Tokyo
Company:
Fujitsu Limited,
Toshiba Corporation,
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