Toshiba Tec Updates Ink Head Business Transfer

Toshiba Tec Updates Ink Head Business Transfer

Toshiba Tec has provided additional details on the transfer of its ink head business to Riso and confirmed certain items that were left undecided in previous revelations.

The decision to transfer the business to Riso Kagaku Corporation was made during a Board of Directors meeting on December 22.  The transfer would be implemented through a simplified absorption-type company split, directed to Tec Presision Co., Ltd. (TPI), a subsidiary company of Riso that was established on April 1, 2024 as the succeeding company. While partial revisions were requested later on January 30, 2024, the core details remained the same.

The latest update, resulting from the Board of Directors meeting on April 23, primarily encompasses changes on the dates of key tasks and total assets to be split. Most importantly, the two companies have concluded the agreement of the company split and determined the effective date of agreement from the date of the meeting. By now, the resolution of the Board of Directors and the General Meeting of Shareholders regarding the agreement has been settled.

The amount of asset to be allotted, which was yet to be disclosed in the previous announcement, has been set. A total of JPY ￥6,436 million (USD $41.56 million) in cash will be allocated to Toshiba Tec and TPI as consideration for the rights and obligations to be transferred, each receiving JPY ￥6,114 million (USD $ 39.48 million) and JPY ￥322 million (USD $2.08 million) respectively.

Related:

• Toshiba Provides Update on Integration with Ricoh
• Ricoh Provides Updated Joint Venture Plans with Toshiba
• Toshiba Tec Transfers Inkjet Head Business
• Toshiba Delisted from TSE

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