August 24, 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 video camera system business, including video cameras for medical equipment, (“the Business”) of Toshiba Corporation (“Toshiba”) by a company split.
Toshiba Medical will expand its businesses and cultivate new business fields to strengthen the components business by combining Toshiba Medical’s diagnostic medical imaging business with Toshiba’s video processing technologies.
|Date of contract||August 24, 2016|
|Effective date||October 1, 2016|
(2) Method of the Company Split
The absorption-type company split method is used, in which Toshiba 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 engaged in the Business or any rights and obligations associated with these agreements. These employees will basically be transferred to Toshiba Medical.
The industrial video camera system business, including video cameras for medical equipment
(2) Financial Performance of the Business to be Split (non-consolidated)
Net sales: 3,936 million yen (FY 2015 result)