Toshiba plans to invest about 100 billion Japanese yen (about 4.623 billion Chinese yuan as of now, noted by TapTechNews) in its semiconductor business within three years ending in March 2027.
Vice President Ikegaya Mitsuji of Toshiba announced this news in an interview with the Nikkei newspaper. Ikegaya Mitsuji is also the vice president of the 'Japan Industrial Partners' JIP fund.
The company will strengthen its power semiconductor production line used in electric vehicles (EV) and power equipment. In the energy field, Toshiba will invest about 20 billion Japanese yen (about 925 million Chinese yuan as of now) in India and Kawasaki City to build a power transmission and distribution equipment factory. With the support of JIP, Toshiba aims for a new growth centered around energy and infrastructure.
Toshiba has been acquired by a consortium led by JIP for 2 trillion Japanese yen (about 92.466 billion Chinese yuan as of now) and has since delisted in December 2023, ending more than a decade of turmoil (huge losses in its US nuclear power division due to the Fukushima nuclear power plant accident, and an accounting scandal was exposed in 2015).
Toshiba aims to achieve sales of 3.75 trillion Japanese yen (about 173.374 billion Chinese yuan as of now) and operating profit of 3800 billion Japanese yen (about 175.69 billion Chinese yuan as of now) three years later. Toshiba's latest financial report shows that the company's operating profit in fiscal year 2023 is 399 billion Japanese yen (about 18.45 billion Chinese yuan as of now), that is, to achieve nearly ten times the profit in three years.
In May this year, Toshiba said that due to the accelerated restructuring under the leadership of the new owner, the group will lay off up to 4000 people in Japan and merge four subsidiaries into the parent company to cut costs.
Previously, Toshiba has sold its medical device business to Canon, its notebook computer business to Sharp, its white goods business (referring to products that can replace people in doing household chores including washing machines, refrigerators, etc., or products that provide people with a higher quality of living environment, such as air conditioners, electric heaters) to Midea Group, and its black goods business (referring to products that provide entertainment, such as color TVs, audio systems, game consoles, etc.) to Hisense.