Press release
Tokyo, October 1, 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
