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Toshiba Corp. (TOS)

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Monday 02 December, 2013

Toshiba Corp.

Toshiba to End LCD TV Manufacturing at China Plant

RNS Number : 3929U
Toshiba Corporation
02 December 2013
 



This is the translation of an announcement submitted to the Tokyo Stock Exchange.

 

 

December 2, 2013

 

Representative: Hisao Tanaka

President & CEO, Toshiba Corporation

1-1-1 Shibaura, Minato-ku, Tokyo, Japan

Contact: Naoto Hasegawa, General Manager

Public Relations & Investor Relations Office

Tel: 81 3 3457 2096

 

 

 

Toshiba to End LCD TV Manufacturing at Plant in China

 

On November 29, as per the attachment, Toshiba Corporation (TOKYO:6502)  announced that it will end production of LCD TVs at Dalian Toshiba Television Co., Ltd. and close down the plant by end of December this year

 

Toshiba does not plan to revise projections for fiscal 2013 business performance due to this matter. 



 

November 29, 2013

 

Toshiba to End LCD TV Manufacturing at Plant in China

 

TOKYO - Toshiba Corporation (TOKYO:6502) today announced that it will end production of LCD TVs at Dalian Toshiba Television Co., Ltd. (DLTV) and close down the plant by end of  December this year. The decision was taken as part of Toshiba's measures to reform and return to profit its Visual Products business. Going forward, the company will optimize a balance between in-house production and production by original design manufacturer (ODM) partners, as a means to cut fixed costs and enhance operational efficiency.

 

Production of TVs manufactured at DLTV for the Japanese market will be shifted to ODM, and Toshiba will continue to supply TVs to the Chinese market through a partnership with a local manufacturer.

 

Toshiba is reforming its LCD TV business by promoting a facility-light strategy as a means to improve profitability. The company recently announced their transfer of ownership of its Polish TV plant to Compal, and the closure of DLTV is the final phase of restructuring the business. Toshiba aims to see profit in its Visual Products business in the second half of this fiscal year.

 

Outline of DLTV

Company name:             Dalian Toshiba Television Co., Ltd

Established:                               July 1996

Location:                            No.8 An Shan Street, Dalian Economic & Technical Development Zone, Dalian,The People's Republic of China

Representative:              Atsushi Shibata

Number of Employees: Approximately 900

Business:             Production of medium- and large-screen LCD TVs

 

About Toshiba

Toshiba is a world-leading diversified manufacturer, solutions provider and marketer of advanced electronic and electrical products and systems. Toshiba Group brings innovation and imagination to a wide range of businesses: digital products, including LCD TVs, notebook PCs, retail solutions and MFPs; electronic devices, including semiconductors, storage products and materials; industrial and social infrastructure systems, including power generation systems, smart community solutions, medical systems and escalators & elevators; and home appliances.

 

Toshiba was founded in 1875, and today operates a global network of more than 590 consolidated companies, with 206,000 employees worldwide and annual sales surpassing 5.8 trillion yen (US$61 billion). Visit Toshiba's web site at www.toshiba.co.jp/index.htm

 

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