Toshiba To Transfer Semiconductor Fabrication Facilities To Sony

(RTTNews) - Toshiba Corp. (TOSYY.PK, TOSBF.PK) said that it will transfer its semiconductor fabrication facilities, equipment and related assets of Toshiba's 300mm wafer production line, mainly located at its Oita Operations facility to Sony Corp. (SON.L, SNE). The purchase price of the Transfer is 19 billion yen.

Sony and Toshiba aim to complete the Transfer within the fiscal year ending March 31, 2016, subject to any required regulatory approvals.

Based on the memorandum of understanding entered into between Sony Corporation and Toshiba on October 28, 2015, the companies announced that they have signed definitive agreements to transfer to Sony and to Sony Semiconductor Corporation or "SCK", a wholly-owned subsidiary of Sony, certain Toshiba-owned semiconductor fabrication facilities, equipment and related assets in its Oita Operations facility, as well as other related equipment and assets owned by Toshiba.

Following the Transfer, Sony and SCK plan to operate the semiconductor fabrication facilities as fabrication facilities of SCK, primarily for manufacturing CMOS image sensors.

The companies expect to offer the employees of Toshiba and its affiliates employed at the fabrication facilities to be transferred, as well as certain employees involved in areas such as CMOS image sensor engineering and design (approximately 1,100 employees in total), employment within the Sony Group, upon the completion of the Transfer.