Toshiba's New Subsidiary to Advance Process Reforms of Toshiba Next Plan

TOKYO Toshiba Corporation (TOKYO: 6502) today announced that it will establish a new wholly owned subsidiary dedicated to developing a next-generation core system for Toshiba Group. Toshiba T1 Projects Corporation ( Toshiba T1 ) will be incorporated on July 1 and is expected to start deploying new systems in Toshiba Group that improve process efficiency from FY2022.

A key target of the Toshiba Next Plan, the blueprint for Toshiba Group's corporate transformation announced in November 2018, is Group-wide process standardization and digitization that will enhance operating efficiencies. This is being achieved through a 140- billion yen investment program to build a next-generation core system and promote reforms of engineering processes.

The first steps forward were the appointment of Keiichi Yumita as Chief Information Officer responsible for advancing the reforms in January 2019, and the February 2019 establishment of the Business Process Re-engineering Division, responsible for Group-wide operating processes and overall optimization.

Mr. Yumita and his division built the framework for implementing reforms by creating an enterprise architecture (EA) for Toshiba Group that defines the ideal condition or aspects for all of its business processes and systems. They also defined T1,' a group of key projects essential for realizing the EA.

Toshiba T1 will now take the initiative in carrying forward the T1 projects, with the aim of starting to deploy new systems in Toshiba Group from FY2022. Toshiba T1 will form strategic partnerships with multiple third-party with specialist expertise, allowing it to achieve innovations that Toshiba could not realize alone. This approach will also allow Toshiba T1 to develop highly capable people in Toshiba Group by giving employees the opportunities to work on diverse and wide-ranging process reforms in collaboration with third-party experts.

The establishment of Toshiba T1 will support Toshiba's drive to implement fundamental process reforms, to continue to improve core earning power, and to become a leading cyber-physical systems (CPS) technology company, the vision for the company detailed in the Toshiba Next Plan.

Overview of Toshiba T1

1. Name: Toshiba T1 Projects Corporation (provisional)

2. Address: 1-1, Shibaura 1-Chome, Minato-ku, Tokyo, Japan

3. Name and title of representative: Takaaki Onishi, President and CEO

4. Business Outline: System planning, development, operation, etc.

5. Capital stock: 100 million yen (provisional)

6. Established: July 1, 2020 (provisional)

7. Shareholder: Toshiba Corporation 100%

LINK:	http://www.toshiba.co.jp/about/press/2020_05/pr2901.htm...
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