Toshiba, a provider of enterprise storage devices, said that it had acquired Fujitsu’s shareholding in Toshiba Storage Device Corporation (TSDC), and with the completion of the transaction TSDC has become a wholly owned subsidiary of Toshiba.
Toshiba and Fujitsu merged their HDD businesses in October 2009, where Toshiba acquired an 80.1% stake in TSDC, making it a Toshiba Group subsidiary. Fujitsu took a 19.9% stake in TSDC, which it was scheduled to hold until the end of December 2010.
Toshiba has acquired Fujitsu’s stake, making TSDC a wholly owned Toshiba subsidiary. The complete overview includes a capital of 350 million yen, holding ratio of 100%, and number of employees approximately 1,000.
Neither Toshiba nor Fujitsu will revise its consolidated financial projections fiscal 2010 as a result of the above transaction.
