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Funai and Toshiba Announce Joint-Venture to Manufacture Color Picture Tubes in Indonesia

1 February, 2001


FUNAI ELECTRIC CO., LTD.
Toshiba Corporation

Osaka and Tokyo--Funai Electric Co. Ltd. and Toshiba Corporation today announced that they will establish a joint venture color picture tube (CPT) manufacturing operation in Indonesia. Joint venture production of 20-inch CPT is scheduled to start in January 2002.

Toshiba currently owns a subsidiary manufacturing 14-inch and 20-inch CPT in Indonesia. Toshiba, aims for shared use of the present infrastructure with the new operation as a means to strengthen price competitiveness, while Funai, the top supplier of combination TV and VCR products in North America, and well known for its strong brand image in the small- and medium-sized color TV market, will secure the stable supply of CPT necessary to increase sales.

The tie-up is the first in the TV industry between a CPT manufacturer and a TV set maker, and the partners expect it to produce considerable benefits. Toshiba's CPT manufacturing technology and know-how and Funai's TV production operation, already known for its low-cost production capabilities, will create highly efficient supply-chain management.

The joint venture will have a production capability of 150,000 20-inch CPTs a month, all of which will be supplied to Funai. Once the manufacturing operation has started, the plant will extend production to 21-inch flat CPTs in the future.

Outline of a New Company

Company NameDisplay Device Indonesia (provisional)
IncorporationMarch 2001 (planned)
Presidentto be appointed
AddressIndonesia
CapitalizationUS$40 million
Voting rightFunai 49%, Toshiba 51%
*Shareholding: Funai 65%, Toshiba 35%
*Shareholding includes preferred stock.
Employees760


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