TOKYO -- Toshiba Corporation today announced that it has set up a new company in Singapore to provide support to Toshiba and its subsidiaries in Southeast Asia and Oceania. Capitalized at 200 million yen (about S$3.25 million) and headed by Hiromu Matsuda, the new company, Toshiba Asia Pacific Pte., Ltd., will start operation on July 1st, and is expected to reinforce the overall efficiency of Toshiba Group operations throughout the region.

Toshiba Asia Pacific will conduct a range of support activities commonly required by Toshiba companies in Southeast Asia and Oceania. Centralizing these functions will enhance overall efficiency and capabilities of operating companies. The new company will also be a regional resource for the timely provision of business-related information. The initial focus of Toshiba Asia Pacific's activities will be on the ASEAN countries.

Toshiba Asia Pacific will organize itself around a number of 'centers', each assigned specific missions. Early emphasis will be placed on the company's International Procurement Center, which will purchase parts, materials and products in Singapore and other countries for use in Toshiba's facilities mainly in Asia, including Japan.

Toshiba's present procurement office in Singapore will be integrated into the new procurement center, which will also function as a logistics center for the region the new company covers. In this role the center will optimize international distribution among Toshiba companies for products and purchased goods, seeking to minimize costs. This is an increasingly important consideration as Toshiba increases the number of its Asian production bases.

In order to turn the high yen to its advantage and to strengthen its global competitiveness, Toshiba is enhancing procurement from overseas suppliers, especially in Asia. On a non- consolidated basis, Toshiba Corporation plans to import 360 billion yen of parts, materials and products in fiscal 1996, well above the 250 billion yen in fiscal 1994 and a two year ahead of an original schedule for increasing imports. The International Procurement Center at Toshiba Asia Pacific is expected to enhance this drive.

Other centers at the new Singapore company include the Regional Center for administration, information gathering and analysis and government/community relations. A Marketing Center will conduct market surveys and other sales promotion activities in such areas as power generating plant and information/ telecommunications systems and infrastructure. The company plans to expand its functions as it grows in the future.

Hiromu Matsuda, Managing Director of Toshiba Asia Pacific, said, "The region we will cover is becoming increasingly important, both as a production base and as a quickly growing and important market. I hope Toshiba Asia Pacific will play an important role in further promoting and expanding Toshiba's business in this area.

Name of the company: Toshiba Asia Pacific Pte., Ltd.
Managing Director:   Hiromu Matsuda
Address (tentative): 460 Alexandra Road, #21-00 PSA Building,
                     Singapore 0511
No. of employees:    Initial 26
Capital:             200 million yen (approximately S$3.25 million)