Toshiba and transcosmos Agree to Share Transfer of Company Established for Business Split From Toshiba Human Asset Service Corporation

TOKYO, Sept. 9, 2019 /PRNewswire-PRWeb/ -- Toshiba Corporation (TOKYO: 6502) and transcosomos inc. (TOKYO: 9715) have agreed to transfer to transcosmos 80.1% shares of a company established to facilitate the split off from Toshiba Human Asset Service Corporation (hereinafter HAS) of business related to human resources and labor management for Toshiba Group. The transfer will take place on November 1, 2019.

HAS, a wholly owned subsidiary of Toshiba, is a shared-service provider that supports Toshiba Group in areas that include human resources and labor management, international staff support operation, and promotion of occupational health and safety. After deciding to split off and transfer HAS's human resources and labor management operations, Toshiba established a new company as the vehicle for the transaction, and transcosmos will acquire 80.1% of the shares of the company on November 1.

Founded in 1966, transcosmos brings highly skilled personnel and advanced technology to the provision of BPO services that encompass human resources, accounting, sales, purchasing, SCM and design. Acquiring the shares of the new company will allow transcosmos to combine its own capabilities with those cultivated by HAS, and to provide Toshiba Group with more efficient, better quality services.

Overview of Toshiba Human Asset Service Corporation
(1) Name: Toshiba Human Asset Service Corporation
(2) Name and title of representative: Hirotada Chomei, President & CEO
(3) Headquarters: 555 Toriyama-cho, Kohoku-ku, Yokohama-shi, Kanagawa
(4) Established: Apri, 2001
(5) Capital stock: 50 million yen
(6) Major shareholders and shareholding ratios: Toshiba Corporation 100%

SOURCE transcosmos inc.