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

1 February, 2001

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
CapitalizationUS$40 million
Voting rightFunai 49%, Toshiba 51%
*Shareholding: Funai 65%, Toshiba 35%
*Shareholding includes preferred stock.

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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