Toshiba Signs MoU on Starting Discussions on Business Integration of Toshiba Electronic Devices & Storage Semiconductor Business, ROHM’s Semiconductor Business, and Mitsubishi Electric’s Power Device Business

Toshiba announced that it has signed a memorandum of understanding (MoU) to start discussions regarding a business integration of the semiconductor business of its subsidiary, Toshiba Electronic Devices &

Storage (hereinafter “TDSC”), the semiconductor business of ROHM, and the power device business of Mitsubishi Electric. The MoU was signed with Japan Industrial Partners, (hereinafter “JIP”), TBJ Holdings (hereinafter “TBJH”), ROHM, and Mitsubishi Electric.

Amid increasingly intense international competition in the semiconductor industry, TDSC and ROHM have for some time been examining collaboration in the power devices business.

As part of these efforts, in December 2023, the two companies jointly submitted a plan to Japan’s Ministry of Economy, Trade and Industry covering collaboration and investment in the volume production of power devices. The plan was recognized as a measure under the Japanese Government’s program to ensure a secure and stable supply of semiconductors, and the companies are advancing discussions on collaborative manufacturing initiatives.

On this occasion, Toshiba, JIP, TBJH, ROHM and Mitsubishi Electric agreed to commence discussions based on their shared understanding that the proposed integration, with the participation of Mitsubishi Electric, would realize a business scale and technological foundation capable of competing in the global market, thereby significantly contributing to the development of a wide range of customer bases and industrial sectors as part of Japan’s semiconductor industry, and maximizing the corporate value of the integrated entity.

This agreement marks the commencement of deliberations. At this stage, no decisions have been made regarding transaction terms or the specific details of the business integration, and such details will be discussed and determined going forward.