Toshiba Corporation hereby announces that it has transferred the 19.9% of the outstanding shares in Dynabook Inc. that it held to Sharp Corporation. As a result of this transfer, Dynabook has become a wholly-owned subsidiary of Sharp.
Under the terms of a June 2018 share purchase agreement between Toshiba and Sharp, Toshiba transferred to Sharp 80.1% of the outstanding shares of Toshiba Client Solutions Co., Ltd (hereinafter TCS), then Toshiba’s wholly-owned subsidiary in the personal computer business. That transfer closed in October 2018, and TCS changed its name to Dynabook in January 2019. On June 30, 2020, under the terms of the share purchase agreement, Sharp exercised a call option for the remaining outstanding shares of Dynabook held by Toshiba, and Toshiba has completed procedures for their transfer.
Details are still developing and new information is expected to arise as the transition takes place.