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Toshiba, Fujitsu Finalize HDD Transfer

TOKYO -- Toshiba Corporation (TOKYO:6502) and Fujitsu Limited (TOKYO:6702) today announced that they have concluded a definitive agreement on the transfer of Fujitsus hard disk drive (HDD) business to Toshiba. The agreement follows a memorandum of understanding (MOU) signed by the companies on February 17, 2009. The companies will now seek to complete the business transfer by the target date of July 1st, 2009.

1. Details of Transfer

Fujitsu’s HDD related business and functions will be transferred to a new company, Toshiba Storage Device Corporation (TSDC). Fujitsu’s HDD manufacturing subsidiaries, Fujitsu Computer Products Corporation of the Philippines (FCPP) and Fujitsu (Thailand) Co., Ltd. (FTC), will become Toshiba Storage Device (Philippines), Inc. (TSDP) and Toshiba Storage Device (Thailand) Co, Ltd.(TSDT). The HDD related business of Yamagata Fujitsu Limited will become Toshiba Storage Device Yamagata Corporation (TSDY). Upon completion of the transfer, these three companies will become wholly owned subsidiaries of TSDC.

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