TOKYO -- Toshiba Corporation today announced that it has established a new subsidiary in Beijing, China, to supervise and support its increasingly diverse business operations in China. The new company, Toshiba (China) Co., Ltd., is wholly owned by Toshiba Corporation and is capitalized at US$30 million.

As China has emerged as an economic power and major market, Toshiba's business and manufacturing activities have been diversifying and expanding in recent years, with further expansion expected in the coming few years. Toshiba now has four manufacturing sites in operation in China, with three more scheduled to start operation in the near future. Toshiba subsidiaries now have some 2,000 employees and their cumulative investment in operations in China totals more than 17 billion yen. Toshiba (China) Co., Ltd. will provide a firm basis for Toshiba to support and coordinate overall operations in China.

Toshiba (China) Co., Ltd. is expected to provide the following services to existing and future operating companies; (1) assistance in new investment and re-investment in China; (2) procurement, both inside and beyond China; (3) in balancing foreign exchange among operating companies upon agreement of the authorities; (4) sales, marketing and advertising; (5) recruitment and training; (6) and business consulting. The company will also serve as a clearing house for the provision of business-related information.

Outline of the new company

Company name:       Toshiba (China) Co., Ltd.
Chairman:           Kogo Takaya
President:          Kaname Tomita
Established:        August 1995
Capital:            US$ 30 million (approx. RMB 250 million)
                                   (approx. 2.7 billion yen)
                    100 percent by Toshiba Corp.
No. of employees:   Initial 8
Headquarters:       Room No. 2810, China World Tower, China World
                    Trade Center, No.1 Jian Guo Men Wai Ave.,
                    Beijing, 100004
Offices:            Shanghai, Guangzhou (planned)


      
       

Toshiba in China (Direct Investment)
  
     *Toshiba (China) Co., Ltd.
      
  
Manufacturing companies
     *Toshiba Dalian Co., Ltd. 
       Est. September 1991
       Manufacture of electronic & mechanical components
      
     *Hangzhi Machinery & Electronics Company Limited
       Est. December 1991
       Manufacture of electronic & mechanical components
     
     *Shanghai Jinzhi Electronics Co.
       Est. July 1995 (shortly to start operation)
       Manufacture and marketing of cable television equipment
     
     *Changzhou Toshiba Transformer Co., Ltd.
       Est. September 1995 (planned)
       Manufacture and marketing of ultra high voltage
       transformers for power transmission systems
      
     *Shenyang Toshiba Elevator Company Limited
       Est. July 1995 (shortly to start operation)
       Manufacture and marketing of elevators and escalators
     
     *WUXI HUAZHI SEMICONDUCTOR CO., LTD.
       Est. October 1994
       Manufacture and marketing of semiconductors
     
     *Shanghai Xinzhi Electronics, Ltd.
      Est: December 1992
      Manufacture and marketing of shadow masks for TV picture
      tubes


  
Marketing company
     *TSURONG XIAMEN XIANGYU TRADING CO., LTD.
       Est. Apr. 1995
       Marketing of semiconductors
            
  
Other
     *3 Corporate Offices
     *31 Service Centers
     *3 Parts Centers