TOKYO ELECTRON LTD (OTCMKTS:TOELY) announced partial changes in its organization structure. The ‘Corporate Environment Promotion Center’ and ‘Corporate Safety Promotion Center’ will be merged into a single entity named as ‘EHS Promotion Center.’ The partial changes in the organization structure will be effective on April 1, 2015.
Tokyo Electron also announced several personnel changes. Yuji Tsukamoto, who was Director of MRAM Project Department, will now head Corporate Development Division, effective March 1, 2015. Yasushi Yagi, who was a part of TEL Technology Center in Sendai, will now be the Director of MRAM Project Department, effective March 1, 2015. Masahiro Kawai, associated with Corporate Safety Promotion Center is appointed Director of the new group EHS Promotion Center, effective April 1, 2015. Yoshichika Tejima is appointed as the Director of Quality Promotion Department, effective April 1, 2015.
Change in effective date of Share Exchange
In other news, TOKYO ELECTRON LTD (OTCMKTS:TOELY) informed that there is a change in the effective date of share exchange. It has been changed to March 24, 2015 from previously announced December 30, 2015, due to administrative considerations. These considerations are mentioned as essential procedures in the PR released by the company.
It is the second time Tokyo Electron has changed the effective date of share exchange. Prior to this, the company has announced in a PR dated July 29, 2014 that the share exchange date of September 24, 2014 was changed to December 30, 2014 due to administrative considerations. The change in share exchange date has been accepted by TEL Japan GK. It is in related to the business combination deal and is subject to the deal completion by March 24, 2015.
TOKYO ELECTRON LTD (OTCMKTS:TOELY) performance got a boost from strengthening Japanese economy. The main division of electronics has been experiencing strong demand due to the robust sales of Smartphones in 2014. The higher sales have resulted in need of more devices linked to the network.