Power Sector update

TOSHIBA TO CLOSE ACQUISITION OF T&D BUSINESS FROM VIJAI ELECTRICALS LTD., A MAJOR INDIAN MANUFACTURER

To establish a new company and global supply chain

TOKYO-Toshiba Corporation (TOKYO: 6502) has completed the acquisition of Vijai Electricals Ltd.'s power transmission and distribution businesses. The acquired assets include power transformer, distribution transformers and switchgear businesses.

A new Toshiba subsidiary, Toshiba Transmission & Distribution Systems (India) Pvt. Ltd.("TTDI"), will run the acquired businesses and provide them with Toshiba's latest design, development and production capabilities in order to supply a wide range of T&D products globally as well as in India. TTDI will also deploy businesses in other areas, such as EHV and high voltage direct current power transmission, static var compensators for high voltage networks and railway power supply system, in India.

The acquisition allows Toshiba to make a full-scale entry into India's T&D market, where the company aims to capture 20% share in five years. By 2015, Toshiba targets building a 700-billion yen global T&D and smart-grid business that will utilize TTDI and established T&D manufacturing facilities in Japan, Brazil, China, Russia, Malaysia and Vietnam, along with the global sales channels of Toshiba subsidiary and Landis + Gyr AG.

Overview of the new company

• Company Name: Toshiba Transmission & Distribution Systems (India) Pvt. Ltd.
• Chairman: Katsutoshi Toda
• Location of Office: Rudraram, Andhra Pradesh, Republic of India
• Date of Establishment: 27th Dec, 2013
• Number of Employees: Approx. 4,500
• Main Business: Engineering, Design, Procurement, Manufacturing, Delivery, Erection, Testing, Commissioning, Operation, Maintenance and other related activities for Transformer, Switchgear and other equipment for power, transmission and distribution systems.