Toshiba Memory Holdings Corporation, the world leader in memory solutions, announced today that it has reorganized its capital structure. The company refinanced loans from its main financial banks and issued non-convertible-bond-type preferred stock as a third-party allotment to Development Bank of Japan Inc., aiming to further strengthen its business base. Toshiba Memory Holdings used the proceeds of the issuance to redeem all non-convertible-bond-type preferred stock that it issued in June 2018. Going forward, the company will continue to implement disciplined investments targeting growth and aims to increase its enterprise value under the new capital structure.

(Reference)
Toshiba Memory Holdings to implement 1.2 trillion yen financing through preferred stock and loans (May 31, 2019)
https://global.toshiba-memory.com/content/dam/toshiba-tmc/portal/tmchd/news/tmchd-news-20190531-en.pdf

About Toshiba Memory
Toshiba Memory Group, a world leader in memory solutions, is dedicated to the development, production and sales of flash memory and SSDs. In April 2017, Toshiba Memory was spun off from Toshiba Corporation, the company that invented NAND flash memory in 1987. Toshiba Memory pioneers cutting-edge memory solutions and services that enrich people's lives and expand society's horizons. The company's innovative 3D flash memory technology, BiCS FLASH™, is shaping the future of storage in high-density applications, including advanced smartphones, PCs, SSDs, automotive and data centers. For more information on Toshiba Memory, please visit https://business.toshiba-memory.com/en-jp/

View source version on businesswire.com: https://www.businesswire.com/news/home/20190617005980/en/