|End-of-day quote - 11/25|
Toshiba : Promotes Hydropower Business Integration
|10/28/2020 | 03:00am|
Toshiba Energy Systems & Solutions Corporation
Toshiba Plant Systems & Services Corporation
KAWASAKI/YOKOHAMA, JAPAN―Toshiba Energy Systems & Solutions Corporation (hereinafter 'Toshiba ESS') and Toshiba Plant Systems & Services Corporation (hereinafter 'TPSC') announced today that they have signed an agreement on hydropower business integration as of December 1 to improve efficiency and expand hydropower business. Until now, Toshiba ESS and TPSC have been conducting hydropower business separately, but through this integration, TPSC business will be included in ESS business.
In November 2019, Toshiba group announced that three listed subsidiaries, including TPSC, would be wholly owned subsidiaries of Toshiba corporation to increase the value of the total Toshiba group, based on a five-year transformation plan called the 'Toshiba Next Plan.' Since then, TPSC has strengthened profitability by cooperating with other Toshiba groups in terms of sales, engineering, quality and production. These efforts have already achieved good results; for example, cost reduction by joint purchasing. This hydropower business integration is part of a cooperation among the Toshiba group.
While Toshiba ESS and TPSC have carried out hydropower business in collaboration, Toshiba group has decided to integrate the hydropower business of ESS and TPSC in order to strengthen responsiveness in the Japanese market, as well as expand business overseas. Toshiba group will promote the integration of business strategies and the efficient operation of engineering resources, including development. Furthermore, it will help us respond to customer needs more promptly.
Toshiba group will contribute to solving social issues by providing infrastructure services with high added value following the Toshiba Next Plan.
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Toshiba Corporation published this content on 13 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 October 2020 07:59:01 UTC