Transfer of Subsidiary's Shares

Tokyo, Japan - September 30, 2019

Yokogawa Electric Corporation (Yokogawa) hereby notifies that on this date it has transferred all shares of Yokogawa Medical Solutions Corporation, a consolidated subsidiary, to Fujifilm Corporation (Fujifilm).

1. Reason

Yokogawa Medical Solutions was spun off from Yokogawa's medical information business to become a wholly-owned subsidiary in April 2010. In August 2014, Fujitsu Limited took a 33.41% stake in this company. The company is presently engaged in medical information systems and radiology IT businesses and offers solutions such as imaging information systems, cloud-based image management systems, radiology information systems (RISs), treatment RISs, and content management systems.

Fujifilm is focusing on the healthcare field and its medical systems business provides a variety of products and solutions to medical facilities all over the world, including X-ray imaging systems, endoscopes, ultrasound diagnostic equipment, and in-vitro diagnostics (IVD) devices and drugs. Fujifilm is interested in making use of Yokogawa Medical Solutions' unique know-how, expertise, and products to expand its own medical IT systems lineup and carry out R&D activities that make use of artificial intelligence and other technologies. At the same time, Yokogawa has been looking for ways to sustainably grow Yokogawa Medical Solutions' business while making the most of its existing technologies and customer base.

Given the shared interests of Fujifilm and Yokogawa, the decision was made for Yokogawa to purchase the shares of Yokogawa Medical Solutions Corporation held by Fujitsu Limited, and then transfer all shares of this subsidiary to Fujifilm Corporation. The respective transactions with Fujitsu and Fujifilm were completed today.

As of today, Yokogawa Medical Solutions will make a fresh start as a wholly-owned subsidiary of Fujifilm, under the new name of Fujifilm Medical Solutions Corporation.

2. Yokogawa Medical Solutions Corporation

Capital: 402.5 million yen
Number of employees: 180 (as of January 2019)

3. Fujifilm Corporation

Capital: 40 billion yen
Number of employees: 31,844 (as of March 31, 2019)

4. Impact of this share transfer

We estimate that this share transfer will have a negligible impact on Yokogawa's consolidated financial results.

 

About Yokogawa

Founded in 1915, Yokogawa engages in broad-ranging activities in the areas of measurement, control, and information. The industrial automation business provides vital products, services, and solutions to a diverse range of process industries including oil, chemicals, natural gas, power, iron and steel, and pulp and paper. With the life innovation business, the company aims to radically improve productivity across the pharmaceutical and food industry value chains. The test & measurement, aviation, and other businesses continue to provide essential instruments and equipment with industry-leading precision and reliability. Yokogawa co-innovates with its customers through a global network of 113 companies spanning 60 countries, generating US$3.6 billion in sales in FY2018. For more informationf, please visit www.yokogawa.com.

The names of corporations, organizations, products, services and logos herein are either registered trademarks or trademarks of Yokogawa Electric Corporation or their respective holders.

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