Transfer of Subsidiary’s Shares
Information contained in the news releases are current as of the date of the press announcement, but may be subject to change without prior notice.
September 28, 2011
TDK Corporation (“the Company”) has announced that it has decided to transfer all shares of subsidiary TDK Micro Device Corporation (Headquarters: Kitaibaraki City, Ibaraki Prefecture; President: Toshihiko Honma) to Futaba Corporation (Headquarters: Mobara City, Chiba Prefecture; President: Hiroshi Sakurada) following the dissolution of an equity-based business alliance. This move was made as part of efforts to selectively focus on business activities. Details are as follows.
- Overview of Subsidiary Being Transferred
(1) Company TDK Micro Device Corporation (2) Headquarters 644-55 Hitana, Nakago-cho, Kitaibaraki City, Ibaraki Prefecture (3) Representative Toshihiko Honma, President (4) Main business Manufacture and sales of visual display equipment, etc. (5) Paid-in capital 100 million yen (6) Established May 17, 1991 (7) Fiscal year-end March 31 (8) Issued shares 16,600 shares (9) Shareholders and shareholdings TDK Corp. 75%, Futaba Corp. 25%
- Overview of Share Purchaser
(1) Company Futaba Corporation (2) Headquarters 629 Oshiba, Mobara City, Chiba Prefecture (3) Representative Hiroshi Sakurada, President (4) Main business Manufacture and sale of electronic components, electronic equipment and tools (5) Paid-in capital 22,558 million (6) Established February 3, 1948 (7) Main shareholders and shareholdings (As of March 31, 2011) Futaba Denshi Memorial Foundation 7.09%
Japan Trustee Services Bank, Ltd. 6.45%
Reiji Hosoya 5.98%
(8) Relationship with TDK Micro Device Corp. Capital There has been an equity-based business alliance since October 2009 Personnel As above Trading As above
- No. of Shares for Transfer and Scheduled Transfer Date
(1) No. of shares to be transferred: 12,450 shares (Shareholding of 75%)
(2) Scheduled transfer date: April 1, 2012
This share transfer will have an immaterial impact on TDK’s consolidated operating results for the fiscal year ending March 31, 2012.
For further information, contact the Corporate Communications Dept.