The effective period of the plan for countermeasures to large-scale acquisitions of the shares in Toshiba Corporation (the "Company") (the "Former Renewed Plan") adopted in 2006 and renewed upon approval by resolution of the board of directors on May 8, 2009 and approval at the 170th ordinary general meeting of shareholders of the Company held on June 24, 2009 expires at the conclusion of the ordinary general meeting of shareholders to be held in June 2012 (the "173rd Shareholders Meeting").
Accordingly, the Company announces that the Company's board of directors resolved at its board of directors meeting held on May 8, 2012 to partially revise the basic policy regarding the persons who control decisions on the Company's financial and business policies (as provided in Article 118, Item 3 of the Enforcement Regulations of the Companies Act; the "Basic Policy") and to renew the plan for countermeasures to large-scale acquisitions of the shares in the Company (that plan after renewal, the "Plan") for a further three years by partially revising the Former Renewed Plan, as a measure to prevent decisions on the Company's financial and business policies from being controlled by persons deemed inappropriate (Article 118, Item 3(b)(ii) of the Enforcement Regulations of the Companies Act) under the Basic Policy. The Plan will be renewed after the shareholders' approval has been obtained at the 173rd Shareholders Meeting.
For the renewal of the Plan, the Company has made the necessary revisions such as new establishment of the procedures for submitting an Acquirer's Statement (defined below) and addition of a Trigger Event (defined below). However, there is no significant change to the substantive content of the Former Renewed Plan.
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