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3
To Our Shareholders
After the June 2009 annual shareholders’ meeting, Norio Sasaki succeeded Atsutoshi Nishida as
President & CEO. Under our new leadership, Toshiba Group will pursue an early recovery in
business performance through determined implementation of the “Action Programs to Improve
Profitability” that we announced at the end of January 2009. At the same time, we are positioning
ourselves today to successfully meet the challenges of tomorrow.
In fiscal year 2008, consolidated net sales were ¥6,654.5 billion, a decrease of ¥1,010.8 billion
from FY2007. Consolidated operating income (loss) declined by ¥496.6 billion to -¥250.2 billion,
and consolidated net income (loss) dropped by ¥471.0 billion to -¥343.6 billion. Our business
results became very severe due to such factors as the shrinkage of the overall market as a result of
the rapid worsening of the world economy and the steeper than expected decline in prices of
semiconductors, mainly of NAND flash memory. As a result, Toshiba, with regret, reduced its annual
dividend to ¥5 per share, a ¥7 decrease from FY2007. We can assure you it was a very difficult
decision for us to take.
Toshiba is making all-out Group-wide efforts to speedily and effectively carry out its “Action
Programs to Improve Profitability.” These “Action Programs” were set up with the key objectives of
transforming Toshiba Group into a Group with a strongly profitable business structure, one that
can generate profit in FY2009 even if the level of sales is not expanding, and building a strong
business foundation that will enable us to quickly seize business opportunities when the market
begins to recover.
Toshiba will continue to strive to enhance corporate value by promoting four basic
management policies: returning to the path of sustained growth with steadily higher profit; setting
up ambitious goals for innovation and speed its pace; continuing to accelerate our globalization;
and further strengthening CSR management.
We will make it our first priority to achieve the earliest possible business recovery and a return
to the path of sustained growth with steadily higher profit. We are confident that we will emerge
from the world economic crisis as an even stronger Group than before.
As we follow through on our plans of action, we would like to ask our shareholders for their
continued strong support and understanding.
Chairman of the Board and Director Director
President and CEO
Atsutoshi Nishida Norio Sasaki