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.
