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TOSHIBA ANNUAL REPORT 1999
Page
6.
In visual products, digitization is allowing us to add value to our products. In
home appliances, we are reducing over-dependence on Japan with a new strategy
that looks to the world and to markets with greater growth potential, particularly in
Asia. Our complementary alliances with Carrier Corporation and AB Electrolux of
Sweden are key elements of this plan, through which we are determined to reinforce
our household appliance businesses.
The outlook of the Japanese market for power plants and equipment remains
difficult. Utility companies have excess capacity and are responding to increasing
pressure to cut costs by curbing capital expenditure. Teaming up with leading
domestic and overseas companies will allow us to pare costs, boost productivity and
enhance R&D as we look to expand in Asia and other regions outside Japan. Rein-
forcement of ties in thermal and nuclear power generation with General Electric
Company of the United States is the locus of this drive.
As the new century approaches, we are convinced our reforms and business
focus are allowing us to reinvent Toshiba. We ask our shareholders and business
partners for their continued support and understanding as we advance this major
undertaking.
July 1999
TAIZO NISHIMURO
President and Chief Executive Officer