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64 TOSHIBA Annual Report 2014
Toshiba Corporation and Subsidiaries
March 31, 2014
Notes to Consolidated Financial Statements
Vijai Electricals Ltd.'s power transmission and distribution businesses
The Company entered into an agreement with Vijai Electricals Ltd. (“Vijai”) to acquire the major part of Vijai's power
transmission and distribution (“T&D”) businesses for approximately 13.7 billion Indian Rupee on September 6, 2013 (Japan
Standard Time), and acquired the businesses on December 27, 2013.
In accordance with this agreement, the businesses were acquired through a new company established in India, Toshiba
Transmission & Distribution Systems (India) Pvt. Ltd. (“New Company”).
Vijai was established in 1973, to manufacture and sell electricity distribution transformers. The business has grown on
the strength of the company's high quality production capabilities, which have allowed it to win the top share in the
Indian market and major footholds in both Europe and Africa. Vijai further expanded its T&D businesses in 2006, when it
entered the power transformer and switchgear businesses.
The New Company will run the acquired businesses and provide them with the Company's latest design, development
and production capabilities in order to supply a wide range of T&D products globally as well as in India.
The Company is in the process of allocating the purchase price to the assets acquired and liabilities assumed in
accordance with ASC No.805, but the process has not been finalized.
The following table summarizes the unaudited pro-forma results of operations, as though the above business
combinations had taken place on April 1, 2012.
Billions of yen
Millions of
U.S. dollars
Year ended March 31 2014 2013 2014
Net sales ¥ 6,509.3 ¥ 5,796.6 $ 63,197
Net income attributable to shareholders of the Company 50.5 78.4 490