News Releases

Toshiba Corporation (hereafter Toshiba or the Company) has been informed that the European Commission (hereafter the Commission) has adopted a decision concerning power transformers.

1. Outline of the Decision
The Commission’s decision imposes fines on seven companies including Toshiba, on the grounds of infringement of EU Competition Law in the power transformer market.  The decision imposes a fine of 13.2 million euros on Toshiba.

2. Countermeasures
Toshiba fully cooperated with the Commission in the course of its investigation. Toshiba believes that the Company has not infringed EU Competition Law, and is currently considering appealing the decision to the European Court of First Instance. Upon formal receipt of the Commission’s decision, the Company 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, FY2009 ending on March 31, 2010, in respect of this decision.