Toshiba sets $1bn budget

Toshiba sets $1bn budget

Tokyo-based electronics maker Toshiba Corporation is boosting its exposure in Southeast Asia with an investment budget of US$1 billion.

Thailand will continue to serve as the centre of business operations, vice-president Fumio Otani said yesterday.

Toshiba plans to spend the $1 billion in Southeast Asia over the next five years, expecting regional sales to double during the same period.

Mr Otani declined to disclose details of the investment.

Thailand has been home to Toshiba factories for more than 40 years.

"We therefore reaffirm Thailand's central place in Toshiba Group's Asean business strategy, and the continued importance of Thailand," Mr Otani said at a press conference in Bangkok.

The company still sees many opportunities in the country, especially in energy as Thailand seeks to cut fuel imports and reduce its dependence on natural gas for power generation.

Toshiba offers a range of power-generation technologies such as photovoltaic, thermal and hydro.

"Also, Thailand is looking to develop efficient transport systems and smart urban planning," Mr Otani said. "Here too, Toshiba can offer solutions."

Hiroyuki Sawada, president of Toshiba Asia Pacific (Thailand), said the company has shifted towards energy and infrastructure since last year and is now promoting operations in Thailand, Laos and Cambodia.

Toshiba Semiconductor (Thailand) is Toshiba's only maker of discrete semiconductor products outside of Japan.

When TST's old factory was inundated during the 2011 floods, the company did not leave Thailand but instead moved to a bigger site in Prachin Buri in 2013.   

Toshiba, with annual sales exceeding ¥6.5 trillion (1.8 trillion baht) last year, employs over 200,000 people worldwide.

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