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Restructuring of Optical Disc Drive Business

28 Mar, 2014

TOKYO—Toshiba Corporation (Tokyo: 6502) today announced that it has entered into definitive agreements with Samsung Electronics Co., Ltd. (Korea: 005930) and OPTIS Co., Ltd.  on the transfer of the optical disc drive (ODD) business that Toshiba operates in partnership with Samsung Electronics to OPTIS, a Korean company and manufacturing partner of ODDs.

Under the terms of the agreements, Toshiba Samsung Storage Technology Corporation (TSST), Toshiba and Samsung Electronics’ Japan-based joint holding company for the ODD business, will transfer to OPTIS its wholly-owned operating subsidiary, Toshiba Samsung Storage Technology Korea Corporation (TSST-K), in three years’ time. As the first step in the transfer process, OPTIS will subscribe to a new issue of TSST-K’s shares in April this year, which will dilute TSST’s shareholding in TSST-K to 50.1%.

Upon the execution of the agreements, TSST-K will continue to operate as before and maintain current employment.

Outline of Toshiba Samsung Storage Technology Korea Corporation

Capital:             5,375 million won
Sales:                996.8 billion won (FY2012)
President:          Daesung Kim
Location:           Suwon, Gyeonggi-do, South Korea
Businesses:        Product and business planning, product development, procurement and sales of ODDs.

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Information in the press releases, including product prices and specifications, content of services and contact information, is current on the date of the press announcement, but is subject to change without prior notice.

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