Notice of sales of securities
28 August 2003 - 10:14PM
UK Regulatory
RNS Number:1236P
Toshiba Corporation
28 August 2003
August 28, 2003
Tadashi Okamura, President and CEO
Shibaura 1-1-1, Minato-ku, Tokyo
Contact: Hideo Kitamura,
General Manager,
Corporate Communication Office
Tel: 81 3 3457 2096
NOTICE OF SALES OF SECURITIES
To whom it may concern:
We hereby inform the following that Toshiba Corporation (Toshiba) has decided to
sell part of its holding securities, as one of the measures in progressing
"asset-light" programs to reduce property and other assets:
1. Total market price of securities to be sold : approximately 37.5billion
yen (as of August 27, 2003)
2. Planned sales period: securities to be sold from August 28, 2003 through
September 30, 2003
3. Impact on operating results:
Toshiba estimates gains from the sale of approximately 21.5 billion yen,
although this is subject to market prices on the sales date. This will be
accounted as extraordinary gains in the settlement of accounts for FY 2003.
The sale is expected to have some effect on Toshiba's operating results for
FY 2003. However, the company's final forecast for this fiscal year has not yet
been announced. This will be done without delay, once material changes to the
forecast become clear.
Forward looking statement:
This contains forward-looking statements concerning Toshiba's future plans,
strategies and performance. These forward-looking statements are not historical
facts, rather they represent assumptions and beliefs based on economic,
financial and competitive data currently available. Furthermore, they are
subject to a number of risks and uncertainties that, without limitation, related
to economic conditions, worldwide mega-competition in the electronics business,
customer demand, foreign currency exchange rates, tax rules, regulations and
other factors. Toshiba therefore wishes to caution that actual results may
differ materially from our expectations.
###
This information is provided by RNS
The company news service from the London Stock Exchange
END
DISNKFKPDBKDCFB