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Toshiba Establishes Joint Venture in Indonesiato Manufacture and Market TV Color Picture Tubes

10 March, 1995

TOKYO -- Toshiba Corporation today announced that it has entered into an agreement with P.T. Tabung Gambar Indonesia (TGI), Japanese trading company Sumitomo Corporation and Korea's Orion Electric Co., Ltd. to establish a joint venture in Jakarta, Indonesia, for manufacturing and marketing of color picture tubes for TVs. A contract between the four parties was signed in Jakarta today.

Capitalized at US$40 million, the joint venture, P.T. Tosummit Electronics Devices Indonesia (TEDI), will be owned 65 percent by the Japanese and Korean partners (28 percent by Toshiba, 22 percent by Sumitomo and 15 percent by Orion Electric) and 35 percent by TGI. The company will be incorporated in April 1995, at which time it will purchase an 11.3-hectare site for a manufacturing plant in the East Jakarta Industrial Park. Manufacturing technology will be transferred to the joint venture from Toshiba and production is scheduled to begin in September 1996.

The new company will manufacture 14- and 20-inch color picture tubes, and will have an annual production capacity of 2.3 million units. Some 30 percent of the output will be shipped to Toshiba's TV manufacturing operations in Singapore.

The Indonesian partner, TGI, was established in March 1994, by four of Indonesia's leading TV manufacturers: P.T. Hartono Istana Electronics, P.T. Panggung Electronics Industries, P.T. Topjaya and P.T. National Gobel.

Demand for color TVs in Asia is experiencing a boom, and is particularly robust in the Indonesian market. The joint venture will establish Indonesia's first color picture tube manufacturer and is expected to enjoy strong growth.

The joint venture is Toshiba's third overseas production site for TV color picture tubes. The first site, in the U.S., is dedicated to producing super-large- and middle-size color picture tubes for the North American market. The second overseas site, in Thailand, is producing small- and middle-size color picture tubes, most of which go to the Asian market. The new joint venture will contribute to assuring a stable tube supply for Toshiba by complementing the Thai operation.

Outline of the new company

Name:          P.T. Tosummit Electronics Devices Indonesia
Founded:       April 1995 (planned)
Capital:       US$40 million
               65% by Japanese and Korean partners
               (28% by Toshiba, 22% by Sumitomo and
                    15% by Orion Electric)
               35% by P.T. Tabung Gambar Indonesia
Location:      Jakarta, Indonesia
Site Area:     11.3 hectares
Employees:     Approximately 1,100 (September 1996)
Product:       14- and 20-inch TV color picture tubes
Start of manufacture:         September 1996

Information in the press releases, including product prices and specifications, content of services and contact information, is current on the date of the press announcement,but is subject to change without prior notice.

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