October 3, 2016
Toshiba Medical Systems Corporation (“Toshiba Medical”, headquarters: Otawara, Tochigi Prefecture, Japan; President: Toshio Takiguchi) hereby announces that it has concluded an Absorption-type Company Split Agreement (“Company Split Agreement”) to succeed to the industrial power supply business, including industrial power supplies intended for medical equipment, (“the Business”) of Toshiba Teli Corporation (“Toshiba Teli” , headquarters: Hino, Tokyo, Japan; President: Yukihiro Hayashi) by a company split.
Toshiba Medical will expand its businesses and cultivate new business fields to strengthen the new industrial power supply business by combining Toshiba Medical’s MRI business with Toshiba Teli’s Business.
November 1, 2016
(2) Method of the Company Split
The absorption-type company split method is used, in which Toshiba Teli initiates the Company Split and Toshiba Medical is the succeeding company.
(3) Rights and Obligations to Be Succeeded
Toshiba Medical will succeed to only the assets, contractual status, etc. that belong to the Business.
Notwithstanding the above, Toshiba Medical will not, through the Company Split, succeed to the employment agreements of the employees currently engaged in the Business or any rights and obligations associated with these agreements. These employees will basically be transferred to Toshiba Medical.