Chubu Toshiba Engineering to become a Wholly Owned Kioxia subsidiary in 2022

Secure highly experienced engineering talent and achieve cost efficiencies

Kioxia Holdings Corporation has entered into a definitive agreement with Toshiba Digital Solutions Corporation (a subsidiary of Toshiba Corporation TSE:6502) to acquire all of the outstanding shares of its subsidiary, Chubu Toshiba Engineering (CTE) Corporation, to further strengthen Kioxia Group’s technology development capabilities. Acquisition of the shares will be completed in the first half of 2022, following completion of the necessary procedures, and CTE will become a wholly-owned subsidiary of Kioxia Corporation.

Specializing in semiconductor related hardware and software design, prototyping and evaluation, CTE is well-experienced in semiconductor manufacturing technologies covering areas from development to mass production while building sophisticated technical capabilities over many years. The firm has also provided its engineering services to Kioxia Corporation in the past. Integrating CTE brings in-house highly experienced engineering talent in semiconductor development while enabling cost efficiencies which together will improve enterprise value. The acquisition will enhance Kioxia’s technology development capabilities, as well as deliver synergies across the design, operation, and production of its manufacturing plants.

Kioxia is cultivating a new era of memory with its world class solutions, as it strives towards the mission of “uplifting the world with memory”. The company remains committed to developing initiatives to strengthen the competitiveness of its memory and SSD business.

About Chubu Toshiba Engineering Corporation

Headquarters: Nagoya City, Aichi Prefecture, Japan

Representative: Kunio Yamada, President

Founded: February 1, 1992

Shareholder: Toshiba Digital Solutions Corporation (100%)

Outline of Business:

Engineering services related to semiconductor development, design and manufacturing

Development and operation of semiconductor CIM systems

About Kioxia

Kioxia is a world leader in memory solutions, dedicated to the development, production and sale of flash memory and solid-state drives (SSDs). In April 2017, its predecessor Toshiba Memory was spun off from Toshiba Corporation, the company that invented NAND flash memory in 1987. Kioxia is committed to uplifting the world with memory by offering products, services and systems that create choice for customers and memory-based value for society. Kioxia's innovative 3D flash memory technology, BiCS FLASH™, is shaping the future of storage in high-density applications, including advanced smartphones, PCs, SSDs, automotive and data centers.

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