Toshiba Establishes New Company to Coordinate and Support China Business|
9 August, 1995
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)
|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.|