Toshiba is planning to invest $1 billion in Southeast Asia

Just days after announcing staff layoffs in its PC business, Toshiba has unveiled plans to expand its business in Southeast Asia that include a US$1 billion investment and sales target of US$7 billion. President and CEO Hisao Tanaka told reporters in Jakarta, Indonesia, that the Japanese technology vendor will pump in US$1 billion over the next five years to grow its presence in the region. Noting that Southeast Asia has been a strategic manufacturing hub for Toshiba’s major businesses, including semiconductors and hard-disk drives, Tanaka said the company is targeting to double its current sales in the region to US$7 billion. Part of its plans include a new infrastructure business in Indonesia, scheduled to begin operations soon, and major initiatives in the healthcare sector, according to a statement released Wednesday. The CEO said Toshiba is constructing a medical equipment manufacturing plant in Malaysia, to support a medical equipment sales company that was established there in June. The company had earlier identified healthcare as one of its three main pillars of business, he added.