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Toshiba Establishes South Korean Subsidiary--A First for any Japanese Semiconductor Supplier

31 March, 1999

Tokyo--Toshiba Corporation today announced that it has become the first Japanese semiconductor manufacturer to establish a dedicated sales company in South Korea that receives all products shipped directly from manufacturing facilities in Japan and other overseas countries. Toshiba Electronics Korea Corporation (TEKR) will start operation on April 1. Toshiba's customers in South Korea can now look forward to enhanced service and support, including faster, direct delivery as South-Korean based warehouse operations replace time-consuming delivery from Hong Kong.

The kernel of TEKR is the former Seoul-based sales promotion office operated by Toshiba's Hong Kong subsidiary, Toshiba Electronics Asia, Ltd. While operating independently, the new company will be 100% owned by Toshiba Electronics Asia (Singapore) Pte. Ltd., the regional headquarters for Toshiba's electronic components business in Asia outside Japan, and will oversee marketing strategy for South Korea and support the operations of the current distributor network. In addition to semiconductors, the company will supply thermal printer heads and saw filters.

South Korea is emerging from a tough fiscal 1998 with improved foreign exchange reserves and the worst of its economic problems apparently behind it.
Toshiba anticipates a strong recovery in the semiconductor market--its forecasts indicate an annualized growth rate of 9% in coming years--especially in devices for use in LCDs, mobile phones, handheld computers and DVD-ROM.

With the establishment of TEKR, Toshiba will strengthen its South Korean sales force and offer customers improved and differentiated services. Locally-based stock operations are expected to provide a significant boost to performance by increasing overall efficiency and dramatically shortening lead times, and to advance TEKR's efforts to increase its share of the recovering market. TEKR targets sales of 20 billion yen in fiscal year 1999, rising to 30 billion yen in 2002.

Company Profile
Company NameToshiba Electronics Korea Corporation
Address14F, KEC Building, 275-7 Yangjae-Dong,
Seocho-ku, Seoul, Korea
Tel: +82-2-589-4334; Fax: +82-2-589-4302
PresidentMasaru Omori
EstablishedFebruary 12, 1999 (registration)
StartupApril 1, 1999
Capital1,600,000,000 won, 100% held by Toshiba Electronics
Asia (Singapore) Pte. Ltd.
(Approximately 160,800,000 yen at 0.1005 yen per won)
Employees54 staff (including 8 Japanese)
BranchKumi office 56, Songjung, Kumi City, Kyeongbuk,
Tel:+82-546-456-7613; Fax: +82-546-456-7617
ProductsSemiconductors, thermal printer heads and saw filters

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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