News Releases

TOKYO—Toshiba Corporation (TOKYO: 6502) today contracted with Nomura Real Estate Development Co., Ltd. (NRE) for the sale of the site of its Ome Complex in western Tokyo. The sales price from the transaction is approximately 10-billion yen.

The sale, advanced under the Toshiba Rebuilding Initiative, will improve efficiency of asset use and strengthen Toshiba’s balance sheet. The date of record of the transaction is December 27, 2016.

Toshiba and NRE will enter into a lease back agreement for the site, and in the period to the end of FY2017. Toshiba will cease all business operations at Ome Complex in March 2017, the end of FY2016. Toshiba will demolish the buildings on the site, before finally closing it down. Toshiba Group employees currently employed at Ome Complex will transfer to other locations.

Toshiba established Ome Complex in 1987 and operated it for 48 years. In its time, it has been an R&D and manufacturing site for office computers, word processors, PCs and HDD. It ended manufacturing in 2005, due to structural reform of the PC business, and its main use since has been as a PC and TV development site.

Toshiba continues to promote operations grounded in cash flows.

Summary of the Sale

Property name:    Toshiba Ome Complex
Location:             2-9 Suehiro-cho, Ome-shi, Tokyo 198-8710, Japan
Site area:             119,965.16 m²
Purchaser:           Nomura Real Estate Development Co., Ltd.
Sale price:           Approx. 10 billion yen
Date of record:   December 27, 2016