On July 19, 2022, the Company decided to invite multiple Potential Partners to participate in the second round of the Process (i.e., the second bid process) and, thereafter, with a view to obtaining more comprehensive proposals, provided them with an opportunity to conduct due diligence on the Company’s business, including financial, legal, taxation, regulatory and other matters. As part of the solicitation of proposals regarding strategic alternatives to enhance the Company’s corporate value (the “Process”), the Company proceeded to hold discussions with the Potential Partners. On April 7, 2022, the Company established the Special Committee consisting of outside directors, all of whom are independent of the Company, in order to engage with potential investors and sponsors (the “Potential Partners”) and explore strategic alternatives, and resolved to engage with the Potential Partners and explore strategic alternatives. In addition, the effects of trade friction between the United States and China on sales to some customers, rising energy prices against the background of the conflict between Russia and Ukraine and other related matters, surge in transport costs due to disruptions in logistics, increasing costs of raw materials such as copper and aluminum, etc., may also continue to affect the Group’s ability to achieve its business plan. may change and, in such case, such target figures may not be realized and the business plan cannot be achieved as planned. ![]() Business Risk Factors,” in the Annual Securities Report for the 184th Fiscal Year, and the assumptions, etc. Whether the Group can achieve such target figures will be affected by many risks and issues including the matters described in “3. The target figures were formulated based on certain economic conditions, industrial trends and various assumptions and forecasts considered to be appropriate at the time of formulation. On June 2, 2022, the Company announced the Group Management Policy of harnessing the power of digital and data to contribute to the realization of carbon neutrality and circular economy under our basic commitment of “Committed to People, Committed to the Future.” In this Management Policy, the Group’s long-term vision aiming at maximizing the corporate value of the Group was made clear and the Group’s mid-to-long term target figures were announced. The risks described below are identified by the Group based on information that the Group has obtained as of Jand involve inherent uncertainties, and, therefore, the actual results may differ. The actual occurrence of any of those risk factors may adversely affect the Group’s operating results and financial condition. However, they should not be regarded as a complete and comprehensive statement of risk factors relating to the Group, and there are unforeseeable risk factors other than those described below. Major risk factors related to the Group recognized by the Company as of June 28, 2023, the date of the Annual Securities Report for the 184th Fiscal Year, are described below. ![]() At the same time, the Group faces fierce global competition. The Group’s business areas of Energy Systems & Solutions, Infrastructure Systems & Solutions, Building Solutions, Retail & Printing Solutions, Electronic Devices & Storage Solutions, and Digital Solutions require highly advanced technology for their operation. If there is any discrepancy between the Japanese original and this English translation, the Japanese original shall prevail. This English translation was prepared for reference purpose only. The following is the translation of “Business Risk Factors” section of the Annual Securities Report for the 184th Fiscal Year filed by TOSHIBA CORPORATION (the “Company”) on June 28, 2023. Risk Factors Relating the Group and its Business Q&A on the change in the Share Unit and the consolidation of shares.Electronic Devices & Storage Solutions.Directors and Executives (Link to Corporate Information).
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