Toshiba has announced it has reached an agreement with Compal Electronics on a new business structure for TV brand licensing in Europe.

Compal is the same company Toshiba 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 2015, 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, said Toshiba.