TOSHIBA ELEVATOR AND BUILDING SYSTEMS CORPORATION

News Release

Toshiba Elevator eyeing premium segment in India

Mumbai, February 18, 2012: After making a mark in emerging markets such as China and the Middle East, Toshiba Elevator and Building Systems Corporation (TELC) is now spreading its wings in the Indian market to strengthen growth. TELC aims to capture 10% of India's high-end segment by 2015.

Announcing the company's global strategy, President and CEO Mr. Shinichiro Akiba, said, "We are targeting the premium segment in the Indian market. Presently, we are targeting more than 1,600 units per year within the premium segment, and aim to capture 10% of the premium market share by the year 2015."

According to statistics, in 2012, around 500,000 elevators and escalators will be installed globally in 2012, and India is responsible for nearly 10% of the world's demand. In other words, currently, around 50,000 units of elevator - in low, mid and high segment - are installed every year in India.

"With large and attractive demands by the developers planning luxury condominiums, luxury apartments, high-rise apartments and office buildings and five star hotels in India, TELC is dedicated to offer its finest quality products for premium segment elevators including high speed elevators. We aim to fulfill these demands and offer safer, innovative, high quality and comfortable products and service to the Indian market," said Mr. Akiba, on his maiden visit to India.

Toshiba Elevator established 100% owned subsidiary Toshiba Elevator India, and started business in India in July 2011. Since its establishment, Toshiba Elevator India has secured big project orders such as "One Avighna Park" and other two iconic projects from the famous developer Hiranadani. Toshiba Elevator Group will concentrate on these product installations and is eager to hand over the elevators with the very best quality and achieve customer's satisfaction.

2012-02-18

Contact:

Toshiba Elevator and Building Systems Corporation
Corporate Communications Office
Contact : Inquiries
Phone :+81-44-331-7001