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  7. Toshiba Storage Device Corporation Becomes Wholly Owned Subsidiary of Toshiba Corporation

Toshiba Storage Device Corporation Becomes Wholly Owned Subsidiary of Toshiba Corporation

Fujitsu Limited,Toshiba Corporation

Tokyo, December 28, 2010

Fujitsu Limited and Toshiba Corporation today announced that Toshiba has acquired Fujitsu's shareholding in Toshiba Storage Device Corporation (TSDC). With the completion of the transaction, TSDC has become a wholly owned subsidiary of Toshiba.

In October 2009, Fujitsu and Toshiba merged their HDD businesses. Toshiba acquired an 80.1 percent stake in TSDC, making it a Toshiba Group subsidiary. Fujitsu took a 19.9 percent stake in TSDC, which it was scheduled to hold until the end of December 2010. Toshiba has now acquired Fujitsu's stake, making TSDC a wholly owned Toshiba subsidiary.

Overview of Toshiba Storage Device Corporation

Company name:Toshiba Storage Device Corporation (TSDC)
Capital:350 million yen
Holding ratio:100% Toshiba Corporation
Representative:Kazuyoshi Yamamori
Head office:1-1, Shibaura 1-Chome, Minato-ku, Tokyo, Japan
Number of employees:Approximately 1,000
Business description:HDD design, development, production technology, quality assurance

Impact on Financial Results

Neither Fujitsu nor Toshiba will revise its consolidated financial projections for fiscal 2010 as a result of the above transaction.

About Fujitsu

Fujitsu is a leading provider of ICT-based business solutions for the global marketplace. With approximately 170,000 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$50 billion) for the fiscal year ended March 31, 2010. 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 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 204,000 employees worldwide and annual sales surpassing 6.2 trillion yen (US$75 billion).
Visit Toshiba's web site at www.toshiba.co.jp/index.htm.

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Company:Fujitsu Limited

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Corporate Communications Office

Website:http://www.toshiba.co.jp/contact/media.htm
Company:Toshiba Corporation


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.

This press release has been revised as of December 17, 2018.

Date: 28 December, 2010
City: Tokyo
Company: Fujitsu Limited, Toshiba Corporation, , , , , , , , ,

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