Toshiba Tec : (Progress of disclosure matters) Notice of Transfer of Consolidated Subsidiaries

	MEMBERSHIP
	December 27, 2023
Company name	Toshiba Tec Corporation
Representative	Hironobu Nishikori
	Representative Director
	President and Chief Executive Officer
	(Securities code: 6588,
	Tokyo Stock Exchange Prime Market)
Contact	Akira Abe
	General Manager of Corporate
	Communications Division
	(TEL: [phone])

(Progress of disclosure matters) Notice of Transfer of Consolidated Subsidiaries

Toshiba Tec Corporation (the "Company") announced in the "Notice of Transfer of Consolidated Subsidiaries" dated May 19, 2023 (Note) ("Previous Timely Disclosure") that, in conjunction with the Business Integration, the Company and Ricoh Technologies Company Ltd. (the "Joint Venture Company") would enter into an absorption-type company split agreement, and the Company's board of directors resolved to (i) transfer the shares of its five consolidated subsidiaries (the "Transfer of Shares") to the Joint Venture Company through an absorption-type company split under such agreement and (ii) additionally transfer the shares of Toshiba Tec Europe Imaging Systems to the Joint Venture Company.

(Note) Partial corrections are made in the following press releases.

1. "(Corrections) Notice Regarding Partial Corrections to the "Notice of Transfer of Consolidated Subsidiaries"" released on July 19, 2023
2. "(Progress of disclosure matters) Notice of Transfer of Consolidated Subsidiaries" released on

August 24, 2023

As part of the series of procedures to implement the Share Transfer, the Company has decided to transfer a part of the business of its Chinese subsidiary (sales business of multifunction printers and auto-ID systems, etc.) to another company (the "Chinese Company") through a company split, and to undertake investing in the Chinese Company. As a result, the Chinese Company will become a consolidated subsidiary of the Company.

Each term used but not defined otherwise herein shall have the meaning provided in the Previous Timely Disclosure.

Note

1. Reasons and methods for making the Chinese Company a consolidated subsidiary of the Company

As part of the series of procedures to implement the Share Transfer, the Company decided to transfer a

part of the business of Toshiba Tec Information Systems (Shenzhen) to the Chinese Company through an incorporation-type company split of the company (the "China Incorporation-type Company Split") and to invest in the Chinese Company.

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(2) Location

2. Schedule

The effective date of the China Incorporation-type Company Split is January 1, 2024 (scheduled), and the Company plans to it a consolidated subsidiary of the Company by undertaking investing in the Chinese Company on the same date.

3. Overview of the Chinese Company (as of January 1, 2024)

(1) NameToshiba Tec Business Solutions (Shenzhen) Co., Ltd.

Rm.09-189, 9th Floor, Tower B, TCL Building 6 Gao Xin Nan Yi

Street, Nanshan Shenzhen 518057, the People's Republic of

China

(3)	Name and title of		Hiroyuki Yamazaki, Chairman
representative
(4)	Business description		Sale, etc. of multifunction printers and auto-ID systems, and their
	related products
(5)	Capital		USD10,000,000
(6)	Date of establishment		January 1, 2024
(7)	Major shareholders and		The Company: 95.7%
shareholding ratios
			Capital	The Company holds 95.7% of the voting rights of
			relationship	the Chinese Company.
			Personnel	The Company sends three directors and one
	Relationship with the listed		relationship	auditor to the Chinese Company.
(8)
		N/A
company
			*	After the effective	date of	the	China
			Business
				Incorporation-type	Company	Split,	the
			relationship
				Chinese Company plans to sell the Company's
					products in China.
(9)	Consolidated results of operations and financial condition of the relevant company for the past
three years
			Fiscal year ended		Fiscal year ended		Fiscal year ended
			March 2021			March 2022		March 2023
	Net assets
	Total assets
	Sales
	Operating profit
	Ordinary profit
	Net profit
(Note)	As the effective date of the China Incorporation-type Company Split is January 1, 2024 (scheduled),
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information cannot be filled in for "Consolidated results of operations and financial condition of the relevant company for the past three years", and so it is left blank as shown in the table above. The results of operations of Toshiba Tec Information Systems (Shenzhen) (sales business of multifunction printers and auto-ID systems, etc.), which is to be succeeded by the Chinese Company, for the most recent fiscal year is as follows (Since it is not a legal entity, but part of Toshiba Tec Information Systems (Shenzhen), the figures for net assets, total assets and net profit are omitted):

Fiscal year ended March 2023 (thousand RMB)

Sales	1,040,555
Operating profit	106,230
Ordinary profit	106,490

4．Number of (equity) shares to be acquired, purchase price, and status of (equity) shares held before and after the acquisition

Chinese Company

(1)	Amount of investment	-
before the transfer	(Percentage of voting rights held: 0 %)
(2)	Number of (equity) shares	9,570 thousand dollars
to be acquired
(3)	Purchase price	9,570 thousand dollars
(4)	Amount of investment after	9,570 thousand dollars
the transfer	(Percentage of voting rights held: 95.7%)

(Note) Since the Chinese Company is a limited company, the amount of investment is shown instead of the number of shares owned.

5. Future outlook

The impact of the China Incorporation-type Company Split on the Company's consolidated financial

results for the current fiscal year is negligible.

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