MEMBERSHIP

March 27, 2024
Company name
Representative

ContactToshiba Tec Corporation
Hironobu Nishikori
Representative Director
President and Chief Executive Officer(Securities code: 6588,
Tokyo Stock Exchange Prime Market)
Akira Abe
General Manager of Corporate
Communications Division(TEL: +81-3-6830-9151)(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 (as corrected and amended (Note)) (the “Previous Timely Disclosure”) that,in conjunction with the Business Integration, the Company and Ricoh Technologies Company Ltd. (the “JointVenture Company”) would enter into an absorption-type company split agreement (the “Absorption-TypeCompany Split Agreement”), and (i) the Company’s board of directors resolved to transfer the shares of its
five consolidated subsidiaries (the “Transfer of Shares”) to the Joint Venture Company through an absorptiontype company split (the “Absorption-Type Company Split”) under the Absorption-Type Company Split
Agreement and (ii) the Company decided to additionally transfer the shares of Toshiba Tec Europe Imaging
Systems to the Joint Venture Company through the Absorption-Type Company Split.
(Note) Partial corrections are made in the following press releases.
(i)“(Corrections) Notice Regarding Partial Corrections to the “Notice of Transfer of ConsolidatedSubsidiaries”” released on July 19, 2023

(ii)“(Progress of disclosure matters) Notice of Transfer of Consolidated Subsidiaries” released on
August 24, 2023

(iii)“(Progress of disclosure matters) Notice of Transfer of Consolidated Subsidiaries” released on
December 27, 2023

(iv)“(Progress of disclosure matters) Notice of Transfer of Consolidated Subsidiaries” released onFebruary 6, 2024

For the purpose of implementing the Business Integration, the Company resolved today to establish the US
Company that would be subject to the Transfer of Shares. As a result, matters stated to be determined in thePrevious Timely Disclosure were confirmed.
The section numbers herein are in line with those in the Previous Timely Disclosure and each term used but
not defined otherwise herein shall have the meaning provided in the Previous Timely Disclosure. In addition,matters stated to be determined in the Previous Timely Disclosure but have been newly confirmed or changed
are underlined, and the parts that have no changes are omitted.

1NoteI. Matters stated to be determined in the Previous Timely Disclosure regarding the Transfer of Shares
but have been newly confirmed
3. Overview of the subsidiary to be transferred(1) ~ (4)(omitted)(5) US Company (as of April 1, 2024)
(1)

Name

ETRIA PRODUCTS USA INC.

(2)

Location

850 New Burton Rd #201, Dover, DE 19904(3)

Name and title ofrepresentative

Larry White, President and CEO(4)

Business description

Manufacture and sale of toners and toner cartridges, etc.

(5)

Capital

USD 0.01(6)Date of establishment

April 1, 2024

Major shareholders andToshiba America Business Solutions: 100% (as of April 1, 2024)

shareholding ratios

The Company: 100% (as of the date of the Transfer of Shares)(7)

As of April 1, 2024, the Company does not holdany shares of the US Company. However, theCapitalCompany will hold 100% of the voting rights ofrelationshipthe US Company by the date of the Transfer ofShares by acquiring the shares of the US Company
held by Toshiba America Business Solutions.

(8)

N/A

Relationship with the listed

Personnelcompany

relationship(Note) Toshiba America Business Solutions sends
five directors to the US Company.
N/A(Note) On and after the date of the Transfer ofBusinessShares, the Company will outsource therelationshipmanufacture of toners and toner cartridges,etc. to the US Company, and will purchasethem from the US Company.

(9)

Results of operations and financial condition of the US 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
Sales2Operating profit
Ordinary profit
Net profit(Note) Since the US Company is scheduled to be established on April 1, 2024, the “Results of operations andfinancial condition of the US Company for the past three years” cannot be stated. Therefore, (9) in
the above table is left blank. The results of operations for the most recent fiscal year of Toshiba
America Business Solutions’ business (manufacture and sale of toners and toner cartridges, etc.) thatwill be succeeded to the US Company are as follows. (Net assets, total assets and net profit are omitted
because the relevant business is part of the Toshiba America Business Solutions’ businesses and is
not incorporated.)
Fiscal year ended March 2023
(in thousands of USD)
Sales

60,240Operating profit

20,359Ordinary profit

20,413

5．Number of shares to be transferred, and status of shares held before and after the transfer (as of the dateof the Transfer of Shares)(1) ~ (4)(omitted)(5) US Company
(1)

(2)

(3)

Number of shares held
before the transfer

1,000 shares(Number of voting rights: 1,000)(Percentage of voting rights held: 100%)

Number of shares to be

1,000 sharestransferred(Number of voting rights: 1,000)

Number of shares held
after the transfer0 share(Number of voting rights: 0)(Percentage of voting rights held: 0%)3