Transfer of Fujitsu HDD to Toshiba Delayed

Fujitsu Limited and Toshiba Corporation announced that the target date for Fujitsu’s transfer of shares of Toshiba Storage Device Corporation to Toshiba has been extended from July 1, 2009 to August 1, 2009.

Fujitsu and Toshiba announced on April 30, 2009, that Fujitsu’s hard disk drive business and functions will be transferred to a new company, TSDC. Under a contract between the companies, Fujitsu was to have transferred 80.1% of the shares of TSDC to Toshiba by the target date of July 1, 2009.  

As part of the transfer process, Fujitsu and Toshiba are taking necessary procedures in various countries in accordance with local competition laws. In a certain country, however, the governmental review process has not been completed, and therefore the companies have decided to extend the target transfer date. 

Read also:
Toshiba Definitevely Acquired Fujitsu HDD Business
For ¥30 billion ($310 million)