Announcement on Merger of Consolidated Subsidiaries
Tokyo Electron Limited (TEL) announced that its Board of Directors had adopted a resolution to merge its two subsidiaries, Tokyo Electron Yamanashi Ltd. and Tokyo Electron Tohoku Ltd.
1. Objective of Merger
Unification of development and technology and the implementation of a highly effective organizational structure.
2. Outline of Merger
(1) Merger schedule (tentative)
April 6, 2017 Board of Directors Meetings of each of the companies involved in the merger to approve the merger agreement
April 24, 2017 Shareholders' Meetings of each of the companies involved in the merger to approve the merger agreement
July 1, 2017 Date of merger
(2) Merger method
The Merger will be an absorption-type merger between Tokyo Electron Yamanashi Ltd. as the surviving company and Tokyo Electron Tohoku Ltd. as the absorbed company.
(3) Allotment of shares in connection with merger
Since the Merger is a merger between two wholly-owned subsidiaries of TEL, No shares or monies will be allocated in relation to the Merger.
3. Overview of the Parties to the Merger
4. Status of Surviving Company following the Merger
5. Future Outlook
Since the Merger is a merger between two wholly-owned subsidiaries of TEL, the effect on the consolidated business results of Tokyo Electron Ltd. will be negligible.