|Transfer of Toshiba Entertainment Inc. Interests
16 April, 2007
TOKYO--Toshiba Corporation announced today that it has agreed to transfer its interest in Toshiba Entertainment Inc. (Toshiba Entertainment) to Hakuhodo DY Media Partners Inc. (Hakuhodo DY Media Partners). Effective May 1, 2007, Toshiba Entertainment will become a wholly owned subsidiary of Hakuhodo DY Media Partners.
Toshiba Entertainment is a film production and distributor that acquired Amuse Pictures, Inc. in 2003.
Toshiba Group is optimizing allocation of management resources through a strategic policy of “Focus and Concentration,” with the objective of maximizing corporate strengths and potential for growth and profit. Following discussions of Toshiba Entertainment’s film production and distribution business, and consideration of how best to secure the company’s interests over the long term, Toshiba decided to transfer its 100 percent interest in the company to Hakuhodo DY Media Partners.
Toshiba has reached an agreement with Hakuhodo DY Media Partners that will assure the continued development of Toshiba Entertainment’s current film production and distribution business, while drawing on the know-how and capabilities that Hakuhodo DY Media Partners has cultivated over 30 years of experience in the content business.
Outline of Toshiba Entertainment Inc.
Outline of Hakuhodo DY Media Partners Inc.
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