Toshiba Storage Device Corporation Becomes Wholly Owned Subsidiary of Toshiba Corporation
Fujitsu Limited and Toshiba Corporation today announced that Toshiba has acquired Fujitsu’s shareholding in Toshiba Storage Device Corporation (TSDC). With the completion of the transaction, TSDC has become a wholly owned subsidiary of Toshiba.
In October 2009, Fujitsu and Toshiba merged their HDD businesses. Toshiba acquired an 80.1 percent stake in TSDC, making it a Toshiba Group subsidiary. Fujitsu took a 19.9 percent stake in TSDC, which it was scheduled to hold until the end of December 2010. Toshiba has now acquired Fujitsu’s stake, making TSDC a wholly owned Toshiba subsidiary.
Overview of Toshiba Storage Device Corporation
|Company name:||Toshiba Storage Device Corporation (TSDC)|
|Capital:||350 million yen|
|Holding ratio:||100% Toshiba Corporation|
|Head office:||1-1, Shibaura 1-Chome, Minato-ku, Tokyo, Japan|
|Number of employees:||Approximately 1,000|
|Business description:||HDD design, development, production technology, quality assurance|
Impact on Financial Results
Neither Fujitsu nor Toshiba will revise its consolidated financial projections for fiscal 2010 as a result of the above transaction.