Japanese electronics maker Toshiba Corp. said it plans to invest 1 trillion yen (approx. U.S. $9.4 billion) over the next 3 years to develop digital products and electronic devices such as flat-panel TVs, cell phones, and other devices that have Net-linking and other computer-like functions.
Toshiba said it is aiming for a group operating profit of 280 billion yen (approx. $2.6 billion) on sales of 6.2 trillion yen (approx. $58.3 billion) in the fiscal year ending March 2007.
The company's group operating income for the fiscal year ended March 2003 totaled 115.5 billion yen (approx. $1.1 million) on 5.6 trillion yen (approx. $52.8 billion) in sales. Toshiba said it also plans to spend an additional 1.1 trillion yen ($10.3 billion) in research and development over the same period.
By March 2007, the company said it aims to increase its overseas sales to 50 percent of overall sales with an expansion in China the likely driving force. (Associated Press)
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