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Toshiba Eyes 20% Growth in China
2005-8-9 22:32:35      Agence France-Presse
TOKYO  - Toshiba, which has been mired in the red because of falling prices for its electronics goods, said it aimed to expand sales by 20 percent each year in China and invest to keep a technology edge.

The business plan unveiled by Toshiba's new president Atsutoshi Nishida on Monday said the Japanese giant aimed to make overseas sales 50 percent of its revenue in the year to March 2008, up from 44 percent in the last financial year.

"Especially in the Chinese market, we aim to achieve an annual growth rate of 20 percent," Nishida told a press conference.

Toshiba expects its total sales will rise to 6.6 trillion yen (58.8 billion dollars) for the year to March 2008, compared to 5.8 trillion yen in the year ended March 2005.

This means annual growth in sales of four percent in the three years to March 2008, up from 1.6 percent in the past three years.

Capital investment spending is earmarked to expand by nearly a third -- to 1.1 trillion yen for the three years to March 2008, up from 858.3 billion yen in the three years to last March.

"We might add more to this figure," Nishida said.

Toshiba expects particular growth from its digital products business, which includes flat panel display TVs, hard disc drives and personal computers, with sales expansion of seven percent a year.

Toshiba in the three months to June had reported sinking deeper into the red as prices of microchips and other electronic devices fell.

(Photo source: AFP)

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