Toshiba enters agreement to acquire majority shares of TMST

Toshiba Medical Systems Corporation ("TMSC"), a group company of Toshiba Corporation, today announced that it has entered into an agreement to acquire a majority shares of the stock of a distributor in Turkey, TMST Tıbbi Sistemler Pazarlama Ticaret ve Servis A.S. ("TMST") handling medical diagnostic imaging systems sales and services of TMSC products in Turkish market.

"Expanding its global business of TMSC, Turkey is one of the important market with highest potential in its growth in Healthcare." said Satoshi Tsunakawa, president and CEO, TMSC, "After a decade-long successful partnership, this acquisition will allow TMSC to significantly strengthen to carry out all business processes directly in the Turkish market, by integrating our activities to meet market-oriented activities, as well as expand its local presence in the market to increase and retain the various range of customers."

Uğur Müftüoğlu, Representative of TMST Tıbbi Sistemler Pazarlama Ticaret ve Servis A.S. stated: "The direct operation will provide valuable customer feedback which can be utilized more efficiently for promoting process innovations in each stage of business, such as development, production, sales, service, and marketing activities, allowing the development of a framework enabling rapid launch of high-value-added systems that will satisfy the needs of the Turkish market."

Under the terms of the agreement, it is anticipated that the closing is conditioned after required regulatory approvals and expected to start the operation from March, 2013.