Update on Signing of Share Purchase Agreement for Sale of Toshiba Memory Corporation

Toshiba Corporation announced on March 26 the progress made in satisfying the conditions required to close the sale of Toshiba Memory Corporation, a whollyowned subsidiary of Toshiba, to K.K. Pangea, a special purpose acquisition company formed by a consortium led by Bain Capital Private Equity, L.P.

However, the satisfaction of certain conditions relating to required antitrust approvals has not yet been confirmed. In light of this, Toshiba hereby announces that the closing of the transaction is now anticipated to occur in April 2018 or thereafter. The company still intends to close the transaction as soon as possible.

There will be no impact on the FY2017 full year business results forecast that the Japanese firm announced on February 14, 2018, as it did not include anticipated effects from closing the transaction, such as profit from the sale.

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Toshiba Entered Into Share Purchase Agreement for Sale of All Shares of Toshiba Memory Corporation
Intends to close transaction by end of March, 2018.
2018.03.27 | Press Release
Sale of Toshiba Memory Corporation Officially Announced by Japanese Parent Company
To K.K. Pangea controlled by Bain Capital Private Equity for ¥2 trillion yen ($18 billion)
2017.09.29 | Press Release