SUNNYVALE, CA July 26, 2000 - SanDisk Corporation (NASDAQ: SNDK) and TDK Corporation (NYSE:TDK) announced today that they have signed a worldwide cross licensing patent agreement covering TDK's flash memory card products and SanDisk's flash memory integrated circuits and flash memory card products.
Under the patent agreement, SanDisk is licensed to TDK's patents covering the design and manufacture of flash memory integrated circuits and card products. TDK is licensed to SanDisk's patents covering the design and manufacture of licensed flash card products. Both companies have global rights to use these patents in the licensed product areas. The specific terms of the SanDisk and TDK patent agreement are confidential.
Hajime Sawabe, president and CEO of TDK, said, "We are excited about this business relationship that we have formed with SanDisk, the world's leading company in the flash data storage market. TDK is planning on a new business development with SanDisk which we expect will result in long-term growth and profitability for both companies."
SanDisk Corporation, the world's largest supplier of flash data storage products, designs, manufactures and markets industry-standard, solid-state data, digital imaging and audio storage products using its patented, high density flash memory and controller technology. SanDisk is based in Sunnyvale, CA.
TDK Corporation is headquartered in Tokyo, Japan. It is publicly traded on both New York and Tokyo Stock Exchange under the symbol TDK. TDK manufactures and markets electronic materials, electronic components, storage devices, storage media, data storage cards and integrated circuits. TDK recently developed flash memory controller IC, and encouraged to enter both flash memory card and controller IC business.
The matters discussed in this news release contain forward looking statements that are subject to certain risks and uncertainties as described under the caption "Risk Factors" in SanDisk's annual report on Form 10-K and quarterly reports on Form 10-Q, filed with the Securities and Exchange Commission. The company assumes no obligation to update the information in this release.
TDK's web site/home page address: http://www.tdk.com