OREANDA-NEWS. Toshiba Corporation (TOKYO: 6502) and its wholly owned subsidiary, Toshiba Lifestyle Products & Services Corporation, today announced that they have reached an agreement with a third party on a new business structure for TV brand licensing in the European market. This move continues the process announced in the company’s January 29th press release, ‘Toshiba in Restructuring of Global TV Business’.

Toshiba will partner with Taiwan’s Compal Electronics, Inc., the same company it is partnering with in North America. To the extent permitted by applicable law in the concerned countries, the implementation of the licensing process is scheduled to begin from July this year, after signing of the contract by the companies.

Following on from North America and Europe, Toshiba is also continuing negotiations with third parties on TV brand licensing in the ASEAN countries.

Toshiba Group will continue to further refine optimal business structures in order to secure stable profit.