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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Toshiba | LSE:TOS | London | Ordinary Share | JP3592200004 | JPY50 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 517.1398 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMTOS
RNS Number : 3913O
Toshiba Corporation
19 September 2013
This is the translation of an announcement submitted to the Tokyo Stock Exchange.
September 19 2013
Company name: Toshiba Corporation
1-1-1 Shibaura, Minato-ku, Tokyo
Representative: Hisao Tanaka,
Representative Executive Officer
President & CEO
(Code number: 6502)
Inquiries: Naoto Hasegawa,
Corporate Communications Office
Tel: (03)3457-2100
Notice of Absorption - type Merger with Wholly-Owned Subsidiary
This is to give notice that Toshiba Corporation ("Toshiba") has today decided to effect an Absorption - type Merger ("Merger") with its wholly-owned consolidated subsidiary, Toshiba Consumer Electronics Holdings Corporation ("TCEH"). The Merger will come into effect as of January 1, 2014.
1. Purpose of the Merger
This Merger is being effected in line with the reorganization of Toshiba Group scheduled for October 1, 2013. Following the Merger, Toshiba Corporation will take on the holding company function for Toshiba Group's consumer products business that TCEH currently undertakes, and which it will cease to exercise on September 30.
2. Overview of the Merger
(1) Schedule
Date of decision September 19, 2013 ------------------------------ ---------------------------- Date of signing of the Merger September 19, 2013 Agreement ------------------------------ ---------------------------- Date of effect of the Merger January 1, 2014 (scheduled) ------------------------------ ----------------------------
(Note) This Merger falls under both the provisions for the simplified merger stipulated under paragraph 3 of Article 796 of the Companies Act, in respect of Toshiba, and the short-form merger stipulated under paragraph 1 of Article 784 of the Companies Act, in respect of TCEH, and accordingly, neither company is required to hold a shareholders meeting to approve the Merger Agreement.
(2) Method
Toshiba, as the surviving company, will absorb TCEH, which will be dissolved upon the Merger.
(3) Allotment related to the Merger
There will be no allotment of shares or any other consideration as a result of the Merger.
(4) Treatment of Share Option and Bonds with Share Option of the Dissolving Company
TCEH has not issued any Share Option or Bonds with Share Option.
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3. Overview of Companies
Surviving Company Dissolving Company
------------------------- ------------------------------------------------ -------------------------------
(1) Company's Toshiba Corporation Toshiba Consumer Electronics
name Holdings Corporation
------------------------- ------------------------------------------------ -------------------------------
(2) Head office 1-1-1 Shibaura, Minato-ku, 2-2-15 Sotokanda, Chiyoda-ku,
Tokyo Tokyo
------------------------- ------------------------------------------------ -------------------------------
(3) Representative Hisao Tanaka, Masayasu Toyohara,
Representative Executive Representative Director
Officer, and President
President & CEO
------------------------- ------------------------------------------------ -------------------------------
(4) Principal Digital Products business Management of the home
business (personal computers, appliances business,
LCD TVs, etc.), Electronic covering lifestyle consumer
Devices business (semiconductors electronics, lighting
etc.), Social Infrastructure fixtures and air-conditioning
business (power systems,
social systems, etc.)
------------------------- ------------------------------------------------ -------------------------------
(5) Stated Capital 439,901 million yen 14,500 million yen
------------------------- ------------------------------------------------ -------------------------------
(6) Established June 25, 1904 June 21, 1979
------------------------- ------------------------------------------------ -------------------------------
(7) Number of
Issued shares 4,237,602,026 19,009,690
------------------------- ------------------------------------------------ -------------------------------
(8) Accounting March 31 March 31
period
------------------------- ------------------------------------------------ -------------------------------
(9) Number of 206,087 (Consolidated) 45 (non-consolidated)
employee
------------------------- ------------------------------------------------ -------------------------------
(10) Major Banks Sumitomo Mitsui Banking Sumitomo Mitsui Banking
Corporation Corporation
Mizuho Bank, Ltd
The Bank of Tokyo-Mitsubishi
UFJ, Ltd.
Sumitomo Mitsui Trust
Bank, Ltd
------------------------- ------------------------------------------------ -------------------------------
(11) Major shareholders The Master Trust Bank Toshiba Corporation
and shareholdings of Japan, Limited (trust 100%
ratio account) 6.04%
Japan Trustee Services
Bank, Limited (trust
account) 5.21%
The Dai-ichi Life Insurance
Company, Limited
2.72%
Nippon Life Insurance
Company 2.60%
Toshiba Stock Purchase
Plan 2.59%
------------------------- ------------------------------------------------ -------------------------------
(12) Most Recent year's financial
conditions and business results
--------------------------------------------------------------------------- -------------------------------
Net Assets 1,416,522 million yen 41,369 million yen
(consolidated) (non-consolidated)
------------------------- ------------------------------------------------ -------------------------------
Total assets 6,106,732 million yen 18,814 million yen
(consolidated) (non-consolidated)
------------------------- ------------------------------------------------ -------------------------------
Shareholders' 244.27 yen 2,176.23 yen
equity per share (consolidated) (non-consolidated)
------------------------- ------------------------------------------------ -------------------------------
Net Sales 5,800,281 million yen 5,859 million yen
(consolidated) (non-consolidated)
------------------------- ------------------------------------------------ -------------------------------
Operating income 194,316 million yen 4,332 million yen
(consolidated) (non-consolidated)
------------------------- ------------------------------------------------ -------------------------------
Recurring profit ---- 4,297 million yen
(non-consolidated)
------------------------- ------------------------------------------------ -------------------------------
Net income (loss) 77,533 million yen 5,416 million yen
(consolidated) (non-consolidated)
------------------------- ------------------------------------------------ -------------------------------
Net income (loss) 18.31 yen 284.93 yen
per share (consolidated) (non-consolidated)
------------------------- ------------------------------------------------ -------------------------------
Notes:
1) The information regarding number of employee, major shareholders and shareholdings ratio corresponds to the company's situation as of March 31, 2013.
2) Financial conditions and business results (excluding operating income) for Toshiba have been calculated in accordance with US GAAP.
4. Toshiba's Circumstances following the Merger
There will be no change in the company's name, head office, representative, principal business, Stated Capital and accounting period as a result of this Merger.
5. Outlook
The Merger is with a wholly-owned consolidated subsidiary of Toshiba. Therefore, Toshiba's consolidated results will not be affected.
For Reference
Business Forecast for FY2013 announced May 8, 2013, and Business Results in FY2012 (Consolidated)
Net Sales Operating Income from Net Income
Income Continuing Attributable
Operations, to Shareholders
before Income of Toshiba
Taxes and Corporation
Noncontrolling
Interests
------------------ ------------- ---------------- ---------------- -----------------
Business Forecast 6,100,000 260,000 200,000 100,000
for FY2013 million yen million yen million yen million yen
(Fiscal year
ending in
March 2014)
------------------ ------------- ---------------- ---------------- -----------------
Business Results 5,800,281 194,316 million 155,553 77,533
in FY2012 million yen yen million yen million yen
(Fiscal year
ending March
2013)
------------------ ------------- ---------------- ---------------- -----------------
This information is provided by RNS
The company news service from the London Stock Exchange
END
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