Toshiba to Consolidate

Toshiba Corporation announced the Personal & Client Solutions Company, one of its in-house companies, will be succeeded by Toshiba Information Equipments Co., Ltd (TIE), one of its wholly-owned subsidiaries.

As part of its structural reform of PC business, Toshiba will consolidate Personal & Client Solutions Company and TIE as a single business entity.

According to Toshiba, in this simplified absorption-type company split, the company will concentrate its resources in Japan for product development and design, global production management, as well as sales and services. Meanwhile, it will promote efficient asset-light management.

The company claims there will be no impact on its consolidated financial results since the consolidation takes place with its wholly-owned subsidiary.

The date of signing the company split agreement is scheduled in January 2016 and the effective date of the split will be in April 2016. Plenty of items remain undecided yet and will be announced when decided.

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