Sep 20, 2019

Announcement on Merger of Consolidated Subsidiaries

Tokyo Electron (TEL) announces that it has decided to merge its two subsidiaries, TEL FSI, Inc. and TEL Epion Inc. which are subsidiaries of our US subsidiary, Tokyo Electron U.S. Holdings, Inc.

1. Objective of the Merger
To optimize manufacturing functions in the U.S. region and improve operational efficiency.

2. Outline of the Merger
(1) Merger schedule
Date of the merger (effective date): January 1, 2020 (Tentative)
(2) Merger method
The Merger will be an absorption-type merger between TEL FSI, Inc. as the surviving company and TEL Epion Inc. as the absorbed company.

3. Overview of the Parties to the Merger

Surviving Company

Absorbed Company

(1) Company Name

TEL FSI, Inc.

TEL Epion Inc.

(2) Address

Chaska, MN, U.S.A.

Billerica, MA, U.S.A.

(3) Representative

Toshihiko Nishigaki, Chairman&President

Michael Graf, President

(4) Business Activities

Development, manufacturing and sales of surface preparation system

Development, manufacturing and sales of gas cluster ion beam (GCIB) technology for diverse semiconductor applications and emerging nanotechnology markets

(5) Capital Stock

100 U.S. dollars

1 U.S. dollar

(6) Start of Business

October, 2012

December, 2006

(7) End of Fiscal Year

March 31

March 31

(8) Major Shareholders and Shareholding Ratio

Tokyo Electron U.S. Holdings, Inc.
100%

Tokyo Electron U.S. Holdings, Inc.
100%


4. Status of Surviving Company following the Merger

(1) Company Name

TEL Manufacturing and Engineering of America, Inc.

(2) Address

Chaska, MN, U.S.A.

(3) Representative

Nathan Baxter, President

(4) Business Activities

Development, manufacturing and sales of surface preparation system, gas cluster ion beam (GCIB) technology for diverse semiconductor applications and emerging nanotechnology markets

(5) Capital Stock

100 U.S. dollars

(6) End of Fiscal Year

March 31


5. Future Outlook
Since the Merger is between two wholly-owned subsidiaries of TEL, the impact on the consolidated business results of Tokyo Electron Ltd. will be minor.