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 TS Ltd. .
1. Objective of Merger
To create the best solution by consolidate technological knowledge of both companies and to improve the productivity through the total optimization of production and administration.
2. Outline of Merger
(1) Merger schedule (tentative)
November 6, 2015 Board of Directors Meetings of each of the companies involved in the merger to approve the merger agreement
November 25, 2015 Shareholders' Meetings of each of the companies involved in the merger to approve the merger agreement
February 1, 2016 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 TS 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
Since the Merger is a merger between two wholly-owned subsidiaries of TEL, no changes will be made to company name, address, representative titles or names, business activities, capital stock, or end of fiscal year as a result of 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.