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Toshiba and Matsushita Incorporate Singapore Joint Venture For Low-temperature Polysilicon TFT LCD Panels

24 April, 2001


Construction of world's largest such TFT LCD factory to begin soon

Tokyo--Toshiba Corporation and Matsushita Electric Industrial Co., Ltd. today announced that they have incorporated their new Singapore joint venture, AFPD PTE., LTD., and that will start its operation on May 1, 2001. Toshiaki Fujii, previous general manager of Toshiba's Fukaya Operations, will join AFPD as its president on May 1, 2001.

Amid increasing demand for low-temperature polysilicon TFT LCDs, the new joint venture will assure Toshiba and Matsushita of a reliable supply of state-of-the-art products. Construction of the company's new manufacturing facility will start this May, with the plant scheduled to come on stream in July 2002. The partners expect to invest some 123 billion yen in the company, with 67% coming from Toshiba and 33% from Matsushita, and to ramp up its capacity to 55,000 730mm x 920mm glass substrates a month by fiscal year 2003.

The large glass substrates AFPD will provide will support a variety of applications such as portable PCs, monitors and televisions, and help promote low-temperature polysilicon TFT LCDs, as the next generation TFT display solution.

About AFPD PTE., LTD.

NameAFPD PTE., LTD.
BusinessLow-temperature polysilicon TFT LCD panels
Operation StartMay 1, 2001
PresidentToshiaki Fujii (from Toshiba's Display Devices & Components Company)
Vice PresidentNoboru Yoshida (from Matsushita's Display Device Company; May 1, 2001)
AddressPte Lot A19646, Tampines Advanced Display Park, Singapore
Capital2.5 billion yen at initial operation (50 billion yen in April 2002 after several increases)
ShareholdersToshiba 67%; Matsushita 33%
Employeesapproximately 400 initially; 750 at full capacity in FY2003 (planned)
Productlow-temperature polysilicon TFT LCD panel
Capacity25,000 glass sheets per month initially up to 55,000 glass sheets per month by FY2003 (glass size: 730 x 920 mm)

About Toshiba Corporation

Toshiba Corporation's wide-ranging capabilities assures its position as a leading company in LCDs, CRTs, batteries, semiconductors and other electronic devices, and allows it to support its customers around the world with a complete portfolio of electronic devices. Toshiba has 191,000 employees worldwide and annual sales of over US$50 billion. Visit Toshiba's web site at http://www.toshiba.co.jp

About Matsushita Electric Industrial Co., Ltd.

Matsushita Electric Industrial Co., Ltd., best known for its Panasonic, National, Technics, and Quasar brand names, is a worldwide leader in the development and manufacture of electronics products for a wide range of consumer, business, and industrial needs. Based in Osaka, Japan, the company recorded consolidated sales of US$68.9 billion for the fiscal year ended March 31, 2000. In addition to the Tokyo Stock Exchange, Matsushita's shares are listed on the Amsterdam, Dsseldorf, Frankfurt, New York (NYSE: MC), Pacific, and Paris stock exchanges. For more information, visit the Matsushita web site at http://www.panasonic.co.jp/global/.


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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