Chubu Toshiba Engineering to become a Wholly Owned Kioxia subsidiary in 2022
Secure highly experienced engineering talent and achieve cost efficiencies
Kioxia Holdings Corporation has entered into a definitive agreement with Toshiba Digital Solutions Corporation (a subsidiary of Toshiba Corporation TSE:6502) to acquire all of the outstanding shares of its subsidiary, Chubu Toshiba Engineering (CTE) Corporation, to further strengthen Kioxia Group’s technology development capabilities. Acquisition of the shares will be completed in the first half of 2022, following completion of the necessary procedures, and CTE will become a wholly-owned subsidiary of Kioxia Corporation.
Specializing in semiconductor related hardware and software design, prototyping and evaluation, CTE is well-experienced in semiconductor manufacturing technologies covering areas from development to mass production while building sophisticated technical capabilities over many years. The firm has also provided its engineering services to Kioxia Corporation in the past. Integrating CTE brings in-house highly experienced engineering talent in semiconductor development while enabling cost efficiencies which together will improve enterprise value. The acquisition will enhance Kioxia’s technology development capabilities, as well as deliver synergies across the design, operation, and production of its manufacturing plants.
Kioxia is cultivating a new era of memory with its world class solutions, as it strives towards the mission of “uplifting the world with memory”. The company remains committed to developing initiatives to strengthen the competitiveness of its memory and SSD business.
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