News Release

Toshiba Elevator to Strengthen Strategic Partnership with Its Indian Subsidiary

Toshiba Elevator and Building Systems Corporation (President and CEO: Masahiro Suzuki; Headquarters: Kawasaki, Japan, hereinafter "Toshiba Elevator") has decided to revise its equity stake in Toshiba Johnson Elevators India Pvt. Ltd. (hereinafter "TJEI"), an Indian subsidiary that has been operating under a joint investment with Johnson Lifts Pvt. Ltd. (Headquarters: Chennai, India, hereinafter "Johnson"), largest elevators & escalators manufacturer in India, in order to further strengthen its strategic partnership with the company.

This initiative is intended to strengthen the collaborative framework between the two companies and further enhance our business foundation in the Indian market, where significant growth is expected. By combining the technological capabilities and service quality that Toshiba Elevator has cultivated with Johnson's locally integrated sales and service network, we will work to further reinforce our competitiveness in the Indian market.

Since its establishment in October 2012, TJEI has been developing its business in the Indian market under a strategic partnership with Johnson. At this time, we have determined that strengthening our business foundation is essential to further enhance the Toshiba Elevator Group's competitiveness and corporate value in the market. Accordingly, we have decided to increase Johnson's equity stake in TJEI, thereby expanding the company's role within TJEI.

Following the strengthened partnership, Toshiba Elevator will continue to support TJEI as a shareholder. TJEI will remain the exclusive distributor of Toshiba-brand elevators and escalators in the Indian market, providing sales, installation, and maintenance services while delivering high‑quality products and services.

Toshiba Elevator will continue to provide sales, installation, maintenance, parts supply, and technical support for Toshiba‑brand elevators and escalators in the Indian market. Furthermore, by leveraging Johnson's extensive sales channels and expertise in maintenance services, the two companies will work to create synergies and further expand their business scale.

2026-04-27