| Notice on European Commission's Decision
25 January, 2007
Toshiba Corporation (hereafter Toshiba) has been informed that the European Commission (hereafter the Commission) has adopted a decision concerning gas insulated switchgear (hereafter GIS).
1. Outline of the Decision
The Commission has adopted a decision imposing fines on 19 companies, including Toshiba, on the grounds of infringing EU Competition Law in the GIS market. The decision imposes a fine of 86.25 million euro on Toshiba, plus a fine of 4.65 million euro jointly and severally with Mitsubishi Electric Corporation.
Toshiba has fully cooperated with the Commission in the course of its investigation. Toshiba believes that it has not infringed EU Competition Law, and is currently considering appealing the decision to the European Court of First Instance. After formal receipt of the Commission's decision, Toshiba will review the content and take appropriate action.
3. Outlook for the current fiscal year
The impact of the Commission's decision on Toshiba's business results remains unclear. Therefore, Toshiba will not change the business forecast for the current fiscal year, FY2006 ending on March 31, 2007, in respect of this decision.