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“We want to expand (production) capacity for power chips as quickly as possible,” Chief Executive Taro Shimada told a press conference held to mark the completion of a $14 billion buyout by private equity firm Japan Industrial Partners (JIP).
Toshiba plans to spend 125 billion yen ($175.57 million) to more than double power chip production, aiming to catch up with power chip giants such as Infineon (OTC:IFNNY) Technologies AG.
“We will make optimal resource allocation to growth areas and potential profit both in Japan and overseas,” he said, adding that the company aims to quickly achieve a return on sales of 10% or more.
When asked about the possibility of restructuring and selling unprofitable businesses, Shimada said nothing had been decided. He also declined to comment on the time frame for a potential relisting of shares, saying it would be up to JIP to decide.
($1 = 142.3900 yen)
