Toshiba : Transforming Toshiba to Enhance Shareholder Value (with notes)

Now, I would like to explain you on our new management policy titled "Transforming Toshiba to Enhance Shareholder Value." With me today is Mamoru Hatazawa, Toshiba's Corporate Senior Executive Vice President as well as Paul Brough, Member of the Board and Chairperson of our Strategic Review Committee, who is attending online.

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Today, Toshiba Group has decided on its significant transformation to further leap toward the future.

Let me first introduce why this is the best path forward, then Mr. Brough will explain on the evaluation made by the Strategic Review Committee. After that, Mr. Hatazawa will talk about the strategy and the business outlook.

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At the Board of Directors meeting held this morning, the decision was made for Toshiba's strategic reorganization to separate its 2 business operations to form Infrastructure Service Company, Device Company, and Toshiba to become as 3 standalone companies.

As we concluded this strategic reorganization to be the best path forward for Toshiba, we took into account the views of our important shareholders and other key stakeholders, as well as the business characteristics and value chain of each of our diverse businesses.

Over our history of over 140 years, Toshiba has constantly evolved to stay ahead of the times. Today's announcement is no different. Toshiba has built a portfolio of leading businesses, but in order to

enhance our competitive positioning, each business needs greater flexibility to address its own market opportunities and challenges.

The official names for new companies will be announced in due course.

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