TOKYO—Toshiba Corporation (TOKYO: 6502) today announced that Toshiba America Information Systems, Inc. (TAIS), a US subsidiary based in Orange County, CA, has sold its Irvine campus to LBA Realty, LLC(LBA) for US$65 million on November 30, 2016. Furthermore TAIS has entered into a lease back agreement as TAIS prepares to relocate to a new corporate office facility within the next 12 months. This transaction is in line with Toshiba’s consistent policy of making efficient use of Group assets and improving its balance sheet.
Toshiba established the Irvine campus as its information equipment business headquarters in the US in 1987, and also operated it as a PC manufacturing facility for 15 years. In 2002, it ended production due to structural reform of the PC business, and the facility has since been used as offices and a warehouse.
Toshiba continues to promote operation grounded in cash flow.
Summary of the Sale
Property Name: Toshiba America Information Systems, Inc. Irvine Campus
Location:9740 Irvine Boulevard, Irvine, CA 92618-1697, U.S.A.
Site Area: Approx. 106,000 m2 (26 acres)Total Floor Space: Approx. 41,500 m2 (450,000 sq. ft.)Purchaser: LBA Realty LLC
Sale Price: US$65 million
Date of Transaction: November 30, 2016
Toshiba Corporation, a Fortune Global 500 company, channels world-class capabilities in advanced electronic and electrical product and systems into three focus business fields: Energy that sustains everyday life, that is cleaner and safer; Infrastructure that sustains quality of life; and Storage that sustains the advanced information society. Guided by the principles of The Basic Commitment of the Toshiba Group, “Committed to People, Committed to the Future”, Toshiba promotes global operations and is contributing to the realization of a world where generations to come can live better lives.
Founded in Tokyo in 1875, today’s Toshiba is at the heart of a global network of 551 consolidated companies employing 188,000 people worldwide, with annual sales surpassing 5.6 trillion yen (US$50 billion). (As of March 31, 2016.)
To find out more about Toshiba, visit www.toshiba.co.jp/index.htm