Committed to People,
Committed to the Future.
At Toshiba, we commit to raising
the quality of life for people around
the world, ensuring progress that is
in harmony with our planet.
Our Values
Basic Commitment of the Toshiba Group
Our Purpose
Do the right thing
We act with integrity, honesty and
openness, doing what’s right—
not what’s easy.
Look for a better way
We continually strive to find new and
better ways, embracing change
as a means for progress.
Always consider the impact
We think about how what we do
will change the world for the better,
both today and for generations to come.
Create together
We collaborate with each other and
our customers, so that we can grow
together.
The Essence of Toshiba
The Essence of Toshiba comprises three
elements: Basic Commitment of theToshiba
Group, Our Purpose, and Our Values.
With Toshiba’s Basic Commitment kept close to
that Toshiba Group makes in society – together
with our values, the shared beliefs that guide
our actions.
The Essence of Toshiba is the basis for the
sustainable growth of theToshiba Group and
the foundation of all corporate activities.
We are Toshiba. We have an unwavering drive
to make and do things that lead to a better world.
A planet that’s safer and cleaner.
A society that’s both sustainable and dynamic.
.
A life as comfortable as it is exciting
That’s the future we believe in.
We see its possibilities, and work every day to
deliver answers that will bring on a brilliant new day.
By combining the power of invention with
our expertise and desire for a better world,
we imagine things that have never been –
and make them a reality.
That is our potential. Working together,
we inspire a belief in each other and
our customers that no challenge is too great, and
there’s no promise we can’t fulfill.
We turn on the promise of a new day.
Message from the CEO
03
Message from the Corporate Senior Executive
Vice President
05
History of Value Creation—Toshiba’s DNA
07
Strategies
Toshiba Group Management Policy
09
Toshiba Group Technology Strategy
15
Intellectual Property
21
Business Results
Financial Highlights (Consolidated)
26
Non-Financial Highlights (Consolidated)
27
Businesses
Business Domains
28
Energy Systems & Solutions
29
Infrastructure Systems & Solutions
31
Building Solutions
33
Electronic Devices & Storage Solutions
35
Digital Solutions
37
Others
39
Sustainability
Sustainability Management
40
Material Issues and KPIs
43
Response to Climate Change
50
Consideration of Ecosystems
55
Corporate Governance
59
Data Section
SASB Reference Table
65
Organization Chart
67
Consolidated Subsidiaries and Affiliated
Companies
68
Corporate History
69
Corporate Data
70
Editorial Policy
71
CONTENTS
Toshiba Integrated Report 2024
01
02
Toshiba Integrated Report 2024
Message from the CEO
Taro SHIMADA
Representative Director
Corporate Officer, President and
Chief Executive Officer
Toshiba Corporation
Companies have a responsibility to contribute to better lives, and to the sustainability of the world
and its people. They do this by considering complex, serious social issues from long-term
perspectives, and finding solutions to them through their business activities. Doing this also
increases corporate value. Today, many people routinely exchange information via mobile devices,
and industry accumulates vast amounts of information from countless IoT devices and sensors. We
live in a time when we all have to utilize the power of data—and whether or not a company can take
advantage of the opportunities offered by the development of the digital economy will determine
its competitiveness.
“Committed to People, Committed to the Future.” is the long standing Basic Commitment of
Toshiba Group. It is a statement that expresses our enduring credo of contributing to the
development of society by solving social issues through business, promoting sustainable
management, and simultaneously helping to realize safer, more secure individual livelihoods, and
social and environmental stability. Since our founding, in 1875, with the venture spirit that has
inspired Toshiba for many generations, we have combined our powers of invention and expertise
to tackle social issues, and today we are taking on problems such as natural disasters resulting
from climate change, inequalities such as information disparities and the digital divide, and
resource depletion. The ability to work with our stakeholders to “turn on the promise of a new day”
is our reason for existence.
Our goal is to achieve carbon neutrality and a circular economy. More specifically, Toshiba will
build infrastructure that everyone can enjoy and a connected data society. In this process, we will
continually create value by maximizing the power of data, and draw on the product expertise,
technologies, and customer relationships we have cultivated over the years to support social
infrastructure, including the energy, water treatment, transportation and devices businesses. We
are also committed to advancing quantum technology, paving the way for the future ahead.
In order to secure sustainable improvement of corporate value, we will continue to prioritize life,
safety and compliance over all other management issues, and to act with a strong awareness that
we will never allow actions that undermine the healthy relationship of trust with our stakeholders.
As a signatory to the United Nations Global Compact, we are striving to strengthen our
environmental, social and governance (ESG) performance, and collaborating with our stakeholders
to build ethical and transparent management foundations and to create rich value. We will
contribute to the achievement of the SDGs through our corporate activities, with a focus on 10
goals where we are working to maximize positive impacts and minimize negative impacts.
The 10 goals that Toshiba Group focuses on
In 2025, we celebrate our 150th
anniversary. Inspired by this and
our philosophy, “Committed to People,
Committed to the Future.,”
we will continue to create lasting value
for society, the planet, and the
generations yet to come.
“
Toshiba Integrated Report 2024
03
04
Toshiba Integrated Report 2024
Message from the Corporate Senior Executive Vice President
In December 2023, Toshiba became a private company, giving us the opportunity to pivot to a
new management structure and open a new chapter in our history. In May 2024, we introduced
“Toshiba’s Revitalization Plan,” our medium-term strategy for restoring Toshiba to its true
potential. It emphasizes leveraging technology to address societal changes and challenges, and
contributing to society through green transformation (GX) and digital transformation (DX).
During the plan’s development, our management team promoted thorough and constructive
discussions with frontline employees, the people central to our ability to create value, and
collaborated closely with our shareholder, Japan Industrial Partners. We also addressed
challenges in underperforming businesses while advancing proper risk assessments and
mitigation strategies.
The plan’s measures for improving the management infrastructure include the visualization of
KPIs and enhanced managerial accounting, reducing fixed costs to lower the break-even point,
and prioritizing strategic investments for growth. By enhancing earning power and channeling
the resources this generates into people, businesses, and technological development, we are
establishing robust foundations for sustainable corporate activities that make meaningful
contributions to society.
The impact of these reforms is already evident. Revising pricing strategies to accurately reflect
value and strengthening risk management for individual projects significantly improved
profitability. In the first half of FY2024, operating income was 3.2 times that of the same period
the previous year, and profit reached the highest level since the exit of the memory business
from our portfolio. In fact, all business segments returned to profitability, reflecting Toshiba’s
enduring technological strengths, and the trust placed in us by our customers. Energized by
these results, we remain steadfast in our commitment to fully implement the measures necessary
to achieve our FY2026 target of a 10% operating income margin.
In executing our growth strategy, we must address significant global challenges, including
energy shortages, resource depletion, and climate change. In Japan, we anticipate substantial
changes in the energy and infrastructure markets. We see all of these as presenting us with major
opportunities. We will identify key areas to target and secure growth by establishing robust
hardware in the energy and infrastructure sectors, and creating added value by integrating
hardware with digital solutions.
In line with the goals set forth in
“Toshiba’s Revitalization Plan,”
we are driving forward various
initiatives to address societal
changes and challenges through
the power of technology,
with the aim of making
a meaningful contribution
to society.
“
Koji Ikeya
Corporate Officer
Corporate Senior Executive
Vice President
Toshiba Corporation
06
Toshiba Integrated Report 2024
Toshiba Integrated Report 2024
05
Founding
In 1930, Toshiba released Japan’s
first electric washing machines and
completed Japan’s first electric
refrigerators. In 1955, the Company
also released Japan’s first electric
rice cookers.
At a time when many women’s lives
were bound to the domestic realm,
these products allowed women to
have more free time.
2010s
In 2017, Toshiba developed the world’s first practical multi parameter
phased array weather radar.
As torrential rains are caused by locally and rapidly developing
cumulonimbus clouds, they had been considered difficult to predict.
However, the multi parameter phased array weather radar makes it
possible to predict the signs of torrential rains and resulting rainfall
quickly and accurately.
1960s
The automated mail processing equipment
completed in 1967 was the world’s first to mechanize
manual
work
by
recognizing
handwritten
characters, and became a forerunner of labor-
saving equipment in the advanced information
society.
At the same time, it led to the widespread use of
optical character reading (OCR) technology,
automatic ticket gates, and other cutting-edge
image recognition technologies. In addition,
research on superconducting materials, which
began in the early 1960s, has borne fruit in the form
of heavy ion cancer treatment devices, leading to
the technology for next-generation medicine.
1970s
In 1978, Toshiba completed Japan’s
first practical kana-kanji conversion
system and released Japan’s first
Japanese word processor.
The
development
of
kana-kanji
conversion technology and high-
capacity storage led to mobile music
devices enjoyed by people out on the
street, e-mail, social media, and other
methods of communication, which
have become the norm today.
1980s
Toshiba commercialized the
world’s first laptop personal
computer in 1985, and the
world’s first NAND flash memory
in 1991. These developments
laid the foundation for an
internet-driven society.
2020s
In 2022, Toshiba developed the world’s first lightweight, compact, and high-power
superconducting motor. This motor is capable of being applied to large mobility
platforms such as aircraft. With the increasing demand to reduce greenhouse gas
emissions, this motor is anticipated to contribute to the electrification of aircraft and
provide new value to the mobility industry.
“We want to be the first to deliver products and services that make people’s dreams
come true and change society.” This passion has been the source of Toshiba’s
products and services.
Toshiba’s technology has altered the way people live and has also changed society.
1875
Hisashige Tanaka founded a telegraphic
equipment factory in Tokyo.
Hisashige
Tanaka
Ichisuke
Fujioka
Tanaka Engineering
Works
Hakunetsu-sha
Shibaura Engineering Works
Tokyo Denki
1890
Ichisuke Fujioka established
Hakunetsu-sha & Co., Ltd.
and manufactured Japan’s
first electric incandescent
light bulbs.
1930
Japan’s first
Completed and released
electric washing machines
and refrigerators.
Japan’s first
1978
Developed a Japanese word
processor.
Japan’s first
2020
Launched operations of a large-scale
carbon capture and storage facility in
Omuta, Fukuoka Prefecture.*3
Film-based perovskite
photovoltaic module
with the world’s
highest*2 power
conversion efficiency
Developed and launched the
laptop personal computer.
Developed the 4-megabit
NAND-type Electrically
Erasable and Programmable
Read-only Memory (EEPROM).
Developed an ultra-supercritical
high capacity steam turbine.
Completed the automated mail
processing equipment.
1967
World’s first
*1 Toshiba’s survey in June 2020
*2 Among film-based perovskite
photovoltaic modules with and
active area of over 100cm2 made
of plastic substrates, Toshiba’s
survey (as of September 10, 2021)
*3 Japan’s first carbon capture unit
to capture over 50% of total CO2
emissions from a thermal power
plant
*4 NEDO Project
Superconducting rotating gantry
irradiation system for heavy-ion
radiotherapy
Collaboration with QST/iQMS
Tokyo Shibaura Denki
1939
Renamed Toshiba Corporation.
1984
History of Value Creation—Toshiba’s DNA
Toshiba’s roots can be traced back to the time when the heritage
of two men—Hisashige Tanaka, dubbed Karakuri Giemon
(inventor of mechanical devices), and Ichisuke Fujioka, known as
the Thomas Edison of Japan—joined forces.
Tanaka Engineering Works (later Shibaura Engineering Works),
founded by Tanaka in 1873, and Hakunetsu-sha, established by
Fujioka in 1890, were the two companies that would eventually
become Toshiba Corporation. They both were business ventures
that dreamed of a bright future for Japan, aspiring to create
something never seen before that would benefit people and society.
“Committed to People, Committed to the Future.” is the long
standing Basic Commitment of Toshiba Group that expresses our
credo since founding to always be on the watch for issues facing
society amid the changing times and resolve them through
business.
Today, in our everyday lives, we are asked to be responsible for a
sustainable future. Natural disasters caused by climate change
threaten the safety and security of our lives. Social and
environmental stability are impaired by problems such as
information inequality and natural resource depletion.
Toshiba’s Roots
Committed to People, Committed to the Future.
Our unwavering drive to make and do things that lead to a better world for over 150 years
Toshiba’s Technology to Turn on the Promise of a New Day
Toshiba is working for a sustainable future for the earth and its
people by contributing to the realization of carbon neutrality and
a circular economy.
Specific initiatives include protecting the safety and security of
individual livelihoods by building infrastructure that is accessible
to everyone, and ensuring social and environmental stability by
building a society connected by data.
For many years now, Toshiba has engaged in businesses that
support essential social infrastructure, including power
generation, water treatment and transportation. Today, the
knowledge, technology and customer connections cultivated
thorough these businesses are invaluable assets. We will draw on
them as we continue to create previously unseen value by
maximizing the power of data.
1991
World’s first
1989
World’s first
Developed the practical
multi parameter phased
array weather radar.
2017
World’s first
Developed the 320-detector
row CT scanner.
2007
World’s first
World’s first lightweight, compact,
high-power superconducting motor
prototype for large mobility applications
2022
World’s first
2016
World’s first
Demonstrated quantum
cryptographic communica
tions covering the world’s longest*1
communication distance of over 600km.
2021
World’s No. 1
World’s leading scale H2 energy system
(Fukushima Hydrogen Energy Research
Field: FH2R) *⁴
2020
World’s leading scale
2021
World’s No. 1
Japan’s largest operator of mega solar power
plant installations
2021
Japan’s No. 1
1985
World’s first
Toshiba Integrated Report 2024
07
08
Toshiba Integrated Report 2024
FY15-Present
Profitability
FY24
FY25-26
After FY27
Period of confusion from accounting
problem to date
Period of the new Medium-Term Business Plan
Future
Become lean
and strong
(Lower the break-even point)
Prepare for
medium- to
long-term growth
Realize medium- to
long-term growth
Key KPIs for FY26 (Fixed cost ratio is vs. FY23)
Operating income/margin
380 billion yen /10%
FCF
200 billion yen
Fixed cost ratio
Reduce 5%
Toshiba Group Management Policy
Positioning of the Plan and its Core Targets
Sales and Components
(Yen in Billions)
In December 2023, Toshiba Corporation transitioned to a private company, withdrawing from the Prime Market of the Tokyo Stock
Exchange and the Premier Market of the Nagoya Stock Exchange. This shift allows us to fully focus on future reforms, fundamentally
address structural challenges, and return to “what Toshiba should be.”
Toshiba’s mission is to leverage technology to address global changes and social challenges. Guided by our management philosophy,
“Committed to People, Committed to the Future.,” we are committed to sustainability management and strive to contribute to society
through Green Transformation (GX) and Digital Transformation (DX).
Announced in May 2024, our new medium-term business plan, “Toshiba’s Revitalization Plan,” sets a key milestone: achieving a 10%
operating profit margin (ROS) by FY2026. To reach this goal, we will strengthen our earning power and strategically reinvest generated
resources into our people, businesses, and technological advancements.
The basic thinking behind the plan is to improve the management infrastructure, lower the break-even point by making the company
leaner and stronger, and to invest in growth strategies. We will achieve these objectives by ensuring that each of our businesses play its role
to the full.
FY2024 marks the “lean-in” phase, where we focus on streamlining operations, reducing fixed costs, and lowering the break-even point to
strengthen profitability ahead of a rebound. From the second year onward, we will strategically reinvest the resources generated in year
one into key areas, transitioning into the “growth phase,” where we aim to increase marginal profit ratios.
We developed the new plan around three key points.
1. Raise the probability of achieving plans
No longer rely on aggressive sales plans. Instead, develop high probability plans that are backed up by concrete measures, and manage
them with KPIs.
2. Drastic reduction of fixed costs
Conduct a thorough review of itemized expenditures and eliminate fixed costs that do not contribute to future growth.
3. Advanced loss-control management
Minimize downside risks by enhancing project screening processes and implementing comprehensive risk analysis to reduce the need
for provisions.
Our targets for FY2026 are sales of 3.75 trillion yen; a fixed cost ratio of 28%, a 5% decrease from FY2023; and an ROS of 10%.
(Yen in Billions)
FY23
Actual
FY26
Budget
Sales
3,285.8
3,750.0
Fixed costs (%)
1,092.5 (33.2%)
1,050.0 (28.0%)
Provisions / Before buffer
Operating income(%)
148.4 (4.5%)
---
Provisions / Buffer
▲ 108.5
---
Provisions / After buffer
Operating income(%)
39.9 (1.2%)
380.0 (10.1%)
3,750.0
Variable costs
61%
Fixed costs
28%
Operating income
3,285.8
62%
33%
Sales +14%
Variable costs
▲1%
Fixed costs
▲5%
Sustainability
Businesses
Data Section
Business Results
Strategies
Strategies
Toshiba Integrated Report 2024
09
10
Toshiba Integrated Report 2024
Toshiba Group Management Policy
Strengthen Areas
Improvement/Challenge Areas
New Fields
High Growth
Businesses
Revenue Growth
Businesses
Transformation
Businesses
PJ Loss Prevention
Business
Applicable
Business
Businesses with superior
market positioning in
growing markets
Businesses with superior
market positioning in
mature markets
Businesses with low
profitability
Businesses whose earnings
are deteriorating due to
specific PJs
Businesses being
launched as new
business fields
Policy
To achieve its full
potential, the company
will focus resources on
increasing sales and
market share.
Manage fixed costs and
capital investments to
maximize profits.
Identify the structural
factors behind declining
profitability and
implement targeted
improvement measures.
Identify the structural
factors behind losses;
HQ and BUs to act as
one to implement
countermeasures.
Thoroughly
implement a gate
management system
to make objective
investment and
withdrawal
decisions.
Expected
Profit
Further profit growth
through increased scale
Achieve an ROS
of 10% or more
Achieve an ROS of 5% or more
Set according to
each business
Main Products
and Services
Power
Generation
T&D
Public
infrastructure
Semiconductors
Digital
Elevators, Lighting
HDD
Railway, Industrial
systems
Retail and printing
Toshiba’s Overall Management Strategy
Business Strategies (Business Portfolio)
Group-Wide Strategies
Our management philosophy, “Committed to People, Committed to the Future.,” the apex of the pyramid in the diagram below, expresses
exactly the values required today, and provides the fundamental premise of our new plan.
In achieving our target of a 10% operating income margin (ROS), it is essential to effectively coordinate “Group-Wide Strategies” that
reduce fixed costs and make optimal allocations of resources with “Business Strategies” centered on business divisions that improve
profitability.
In addition, it is imperative that we increase the feasibility of these strategies by rebuilding our “Management Infrastructure,” which includes
defining and monitoring KPIs and streamlining business processes.
We will accomplish the measures we have formulated by building an optimal system for collaboration between the headquarters and
business divisions and by carefully implementing various measures.
We have redefined our business portfolio into five categories. At the forefront are our high-growth businesses, which hold leadership
positions in expanding markets. We will concentrate our resources in these areas to unlock their full potential and accelerate growth.
Revenue growth businesses operate in mature markets, but they have strong positions with a stable revenue base. Here we aim to achieve
an ROS of 10% or more through appropriate management of fixed costs and capital investment.
We will improve on low profitability in transformation businesses and project loss prevention businesses by identifying factors behind
profit declines and taking improvement measures, with the aim of securing an ROS of 5% or more.
To address internal rigidities and break down barriers between organizations and group companies, we will relocate and consolidate our
headquarters. This involves moving from Hamamatsucho, Tokyo, to Kawasaki, Kanagawa Prefecture, centralizing our base around the
Smart Community Center to be closer to our business divisions and R&D teams. This is scheduled for completion in the first half of FY2025.
In addition to this, we will continue to consider the optimal operating structure, including the integration of the key group companies into
Toshiba Corporation.
Furthermore, in January 2025, Toshiba implemented a headquarters reorganization. The headquarters will focus on and strengthen only
those functions necessary for the corporation and that drive growth and improvement across the Group. The company will transfer
functions required for business operations to business divisions, which will clarify cost control within the units and allow them to make
decisions aimed at raising efficiency and maximizing profitability.
Our future growth is driven by our people, and we prioritize investments in our human resources. In addition to raising wages, we will
continue to promote work style reform and support career development, transforming the company into a more employee-friendly
workplace. To enhance employee engagement, we will actively incorporate employee feedback and establish a compensation system that
appropriately rewards employees for their contributions. We will also promote the selection of talent regardless of age or length of service,
expand educational investments, and increase the number of new graduate hires to rejuvenate our organization.
We are also intensifying efforts to improve productivity. As part of our work efficiency improvement efforts, our meeting reforms have
simplified meetings, reduced pre-meetings, and limited the number of participants, all to significantly reduce the man-hours spent on
meetings. Our estimates show that meetings hosted by corporate staff divisions can be reduced by 24%. On top of this, by actively utilizing
generative AI, we aim to drive operational reforms and expect to improve monthly work efficiency by 5.6 hours per person.
Basic
Commitment
Group-Wide
Strategies
Business
Strategies
Management
Infrastructure
Committed to People, Committed to the Future.
Management strategy to achieve a 10% ROS
Rebuild management infrastructure to enhance
strategy execution
Improve the break-even point by reducing fixed costs
Improve profitability across all businesses and achieve a group-wide ROS of 10%
Search for the best partners to grow businesses
Create innovative technologies and aim for their early commercialization
Establish optimal engagement between business units and headquarters
Define highly probable plans and examine overall risk
Determine and monitor KPIs, establish a project management structure
Simplify and streamline business processes
Sustainability
Businesses
Data Section
Business Results
Strategies
Strategies
Toshiba Integrated Report 2024
11
12
Toshiba Integrated Report 2024
Toshiba Group Management Policy
Energy segment
Infrastructure segment
External
environment
and business
opportunities
Accelerating change in the market environment, including
progress in renewable energy and grid reinforcement
– Changes in decarbonization scenarios and electricity mix as a result
of the 7th Basic Energy Plan
– Against a backdrop of progress in renewable energy and moves to
strengthen grid resilience, investment in the grid, where Toshiba has
strengths, is expected to increase.
Further strengthening of defense sector and infrastructure
resilience
– Government budgets for defense have expanded, and demand for
defense equipment such as radar systems and command and
control systems, in which Toshiba excels, has increased sharply.
– Aging domestic infrastructure and labor shortages
Initiatives
currently
under
consideration
Toshiba is currently considering a bold growth strategy
based on an accurate understanding of the macro
environment, including the power mix in the energy market
and policy trends, and on defining growth areas to target.
Formulate growth strategies centered on the Defense and
Electronic Systems Div. and the Social Systems Div.,
handling the core business of the infrastructure segment.
ROS (By segment, FY23)
FCF (By segment, FY23, Yen in Billions)
FCF (By segment, FY26, Yen in Billions)
Achieve further
growth by ensuring
that each business is
aware of global
best practices and
aims to achieve its
full potential
Group-wide average FCF:
23.7 billion yen
Group-wide
average
ROS5%
Group-wide
average
ROS10%
ROS (By segment, FY26)
Current portfolio (FY23)
Targeted portfolio (FY26)
Future portfolio
Group-wide average FCF:
40.0 billion yen
Net sales
500 billion
yen
Net sales
500 billion
yen
Infrastructure
Energy
Devices
Devices
Digital Solutions
Building, Retail, Batteries
Digital Solutions
Energy
Building, Retail, Batteries
Infrastructure
Our overall business portfolio generated a company-wide average ROS of around 5% in May 2024. We aim to raise this to 10% by FY2026,
the final year of the current plan. The Energy and Infrastructure segments have long provided Toshiba with stable foundations, but current
demand expansion is about to transform them into growth businesses. The Device segment, while having high market growth expectations,
faces challenges in profitability. By reforming the earning structure, we aim to capitalize on growing markets and achieve significant
growth.
While we will work on improving profitability through FY2026, achieving the plan is not our final goal. By making sure that all businesses
are aware of global best practices, and that they show their full potential, we aim to achieve continued growth beyond the medium-term
business plan.
Two key concepts underpin our forward-looking growth strategy: “Establish strong hardware in Energy and Infrastructure” and “Enhance
added value by combining hardware and digital technologies.” We recognize that utilizing digital technology on highly competitive
hardware will allow us to expand our business and increase profitability, and we are promoting collaboration with our Research and
Development Center, which has cultivated advanced technologies, and business divisions engaged in digital businesses.
We foresee major shifts in the Energy and Infrastructure segments—not as challenges, but as strategic growth opportunities. The Energy
segment is being carried forward on the tailwinds of increased electricity demand and the expansion of renewable energy, both expected
to continue for a long time. Responding to this, and to the future energy mix trends considered in Japan’s Seventh Basic Energy Plan, we
will formulate a growth strategy built on our vision of society in 2040.
Along with further reinforcing our power transmission and distribution business, which is currently experiencing strong demand, we aim
to expand our business in line with the increase in businesses related to renewable energy and nuclear power generation. Additionally, we
plan to invest the funds generated from existing businesses into future GX solutions, such as next-generation renewable energy, including
hydrogen, to support our customers’ decarbonization. We also believe that it is necessary to consider collaborations with other companies.
In the Infrastructure segment, Japan is expanding its defense budget. Demand for defense equipment where we have strengths, such as
radar systems and guidance devices, is expected to increase rapidly, and we have already received many orders. We are meeting them by
making new capital investments to increase production. We will also utilize our advanced technologies in areas like AI and quantum
cryptography communications. Regarding future market growth, we intend to position the defense business at the center of our growth
strategy and to commit to it by strengthening our technical, proposal and supply capabilities, reinforcing our resources, including
personnel, and also to consider collaborations with third parties, including established defense contractors and startups. We are now, as
a unified Group, actively discussing a growth strategy centered on energy and infrastructure, and it will be a key element of our FY25
medium-term business plan.
In the Devices segment, we aim to expand the scale of the business by strengthening third-party partnerships to meet increasing global
demand for power semiconductors and hard disk drives. In the Digital segment, we will further strengthen our system integration business,
which is performing well in the government and transportation sectors, by combining its capabilities with hardware. Both segments are
advancing research into elemental technologies with our Research and Development Center, and the results will also contribute to the
development of differentiated technologies for the Energy and Infrastructure segments.
Restructuring Management Infrastructure
Growth Strategies for the Future
We are advancing the reconstruction of management infrastructure through KPIs, monitoring, managerial accounting, and project
management. First, we carefully selected simple KPIs linked to the plan’s policy through thorough discussions with business divisions, and
set them according to the characteristics and challenges facing each business, and have started monthly monitoring. By aligning business
divisions and the headquarters through standardized KPIs, we enhance early risk detection and facilitate proactive countermeasure
discussions. From now, we will promote the penetration of KPIs in business divisions and affiliated companies, in Japan and overseas.
Next, in managerial accounting, we are addressing the challenge of not being able to obtain required figures with appropriate granularity
in a timely manner by improving our data infrastructure. Specifically, we are managing figures by business units, sub-divisions of business
divisions, designing cost criteria that allow cross-company lateral comparisons, visualizing project profitability, and increasing the
granularity of cost management. Doing this will build a system that goes beyond getting a simple grasp of the company’s financial status,
and that provides data and information that contributes to decision-making.
Finally, in project management, to minimize losses, we are reviewing the management structure for highly difficult projects and the
decision-making structure of the approval process, ensuring thorough project profitability management by the headquarters. We believe
that visualization of lifetime profitability will allow us to make decisions from a medium- to long-term perspective, and to set appropriate
sales prices and conditions that take future risks (losses) into account.
Sustainability
Businesses
Data Section
Business Results
Strategies
Strategies
Toshiba Integrated Report 2024
13
14
Toshiba Integrated Report 2024
Toshiba Group Technology Strategy
Achieving Carbon Neutrality and a Circular
Economy
Realizing Safe and Secure Social
Infrastructure
Creating high-value infrastructure through system
interconnection (Smart Connected Infrastructure)
Sofware Defined
Leading net zero through CO2 reduction and removal
TIRA
（Toshiba IoT Reference Architecture）
Power generation
O&M
Power transmission
and distribution DX
Meteorological
disaster prevention
Railway IoT
Logistics/
warehouses
Smart
manufacturing
HDD
SCiB™
Energy
storage
Energy
management
VPP
Power
generation
Renewable
energy
Hydrogen
P2C
Radar Water supply and
sewage
Quantum
communication
Robotics
Power
electronics
EB Mask
writer
Carbon
footprint
Carbon
reduction
Carbon
free
Carbon
Recycling
Resilient
Security
Labor saving
OT service
Building a Connected Data Society
QX
QX
Overall optimization with quantum technology
Overall optimization with quantum technology
Platform
Platform
Diverse
Technical
Talent
DE.DX
DE.DX
Core
Technology
Core
Technology
Acquisition and utilization
of cutting-edge knowledge
Fostering an environment
where diverse talents gather,
stimulate each other, and grow
Creating new value through
collaboration with society
and customers
Energy Systems & Solutions
10%
Infrastructure Systems & Solutions
11%
Digital Solutions
5%
Others
15%
Building Solutions
6%
Electronic Devices &
Storage Solutions
34%
Retail & Printing Solutions
19%
*1 Affiliated with the Research & Development Center
*2 Affiliated with corporate
Toshiba Corporation
Digital Innovation Technology Center
Corporate Manufacturing Engineering Center
Corporate Research & Development Center
Innovation Laboratory
Battery Div.
Next Business Development Div.
Corporate’s R&D organizations
Independent corporations’ R&D organizations
Overseas R&D Organizations
Toshiba Energy Systems
Corporation
Toshiba Electronics Devices &
Storage Corporation
Toshiba Digital Solutions Corporation
Toshiba Tec Corporation
Toshiba Infrastructure Systems &
Solutions Corporation
Energy Systems Research and
Development Center
Infrastructure Systems Research
and Development Center
Sofware Systems Research and
Development Center
Research & Development Center
Toshiba Europe Limited
Cambridge Research Laboratory
Bristol Research & Innovation Laboratory
Israel Development Office*1
Regenerative Innovation Center*2
Toshiba America, Inc. R&D Division*1
Toshiba China R&D Division*1
Toshiba Europe GmbH
Toshiba Sofware (India) Pvt. Ltd*2
Toshiba Sofware Development (Vietnam) Co., Ltd. *2
Toshiba Group R&D Structure
Basic Policy
Research and Development Structure
Guided by its Basic Commitment, “Committed to People, Committed to the Future.,” Toshiba Group leverages its proven technologies to
develop products, solutions, and services that realize safe, reliable infrastructure and contribute to the achievement of carbon neutrality
and a circular economy.
We drive innovation and the development of core physical technologies by making the most of our technological diversity—our core
strength—and by cultivating and motivating the talented people who form the foundations of our capabilities. In the digital realm,
promoting the concept of software-defined ensures that we can generate new value for our customers by advancing digital evolution (DE),
digital transformation (DX) and quantum transformation (QX), and by building a connected data society.
Our research and development (R&D) organization structure consists of the R&D division of Toshiba Corporation and the R&D, design, and
technology divisions of major group companies. Each division plays a distinct role, ensuring that R&D activities are efficiently coordinated
across the organization.
Toshiba Corporation’s R&D division takes a long-term approach to deepening foundational technologies, driving innovative and forward-
thinking research aimed at:
Developing new products;
Significantly enhancing the value of existing products; and
Improving productivity and quality in existing businesses through technology development and real-world applications.
Meanwhile, the R&D, design, and technology divisions of major group companies support core technologies within their respective
business domains. Their efforts focus on:
Developing new products and differentiated technologies in alignment with business strategies; and
Commercializing and scaling production to meet customer needs.
By fostering close collaboration among these divisions, we ensure the seamless introduction of innovative products into the market.
Reinforcing our research and development capabilities to stimulate innovation is a key material issue. We are doing this by maintaining our
investment in R&D at approximately 5% of sales, and an approach that prioritizes focused investments in strategic businesses and
emphasizes efficiency and effectiveness in decisions on R&D expenditure.
Beyond Japan, Toshiba Group operates R&D centers in the United States, Europe, India, Vietnam, and Israel. Their research work is
organically linked with that of R&D centers in Japan, realizing cutting-edge research and development on a global scale. Our determination
to advance carbon neutrality and a circular economy through digitization can be seen in the Regenerative Innovation Centre we have
established in Düsseldorf, Germany. This new R&D operation is our hub for building strong industry partnerships across Europe, and for
promoting research collaborations that focus on the development of state-of-the-art technologies, and their real-world validation,
implementation and standardization.
Toshiba Group’s R&D Vision
Breakdown of R&D expenses (FY2023)
Sustainability
Businesses
Data Section
Business Results
Strategies
Strategies
Toshiba Integrated Report 2024
15
16
Toshiba Integrated Report 2024
Toshiba Group Technology Strategy
Through R&D, Toshiba advances technological innovations that address pressing social challenges, including the realization of a carbon-
neutral society and the need for a safe and secure world in response to rising geopolitical risks. One recent breakthrough is our latest SCiB™
lithium-ion battery, which maintains the defining features of Toshiba’s SCiB™—ultra-fast charging and long lifespan—while achieving
higher volumetric energy density. Another innovation is in spatial security management technology: a walk-through screening solution
that utilizes millimeter-wave radar modules originally developed for automotive applications. Without requiring individuals to stop for
inspection, the system detects hazardous items hidden inside clothing.
Toshiba has developed a lithium-ion battery with a niobium titanium oxide (NTO) anode that achieves an energy density*¹ comparable to
that of lithium iron phosphate (LFP) batteries while also offering ultra-fast charging and a long lifespan—approximately 10 times more
cycles*² than LFP batteries—making it ideal for buses, trucks, and other large commercial vehicles.
This high-performance battery was made possible through advanced electrode manufacturing technology that uniformly distributes
nano-level conductive agents on the surface of NTO particles, forming a robust conductive network between them. This innovation
enhances both energy density and battery longevity while enabling ultra-fast charging.
The new battery achieves an approximately 70% charge in just five minutes and maintains over 80% capacity even after more than 15,000
ultra-fast charge and discharge cycles. Its structure fundamentally prevents lithium deposition, significantly reducing the risk of smoke
emission or combustion, ensuring safe operation in both low- and high-temperature environments.
Given that commercial vehicles operate at high utilization rates in extreme conditions, this battery meets critical requirements for
electrification by combining ultra-fast charging, high safety, and reliability. Additionally, its long lifespan and rapid charging capabilities
reduce the overall battery size and replacement frequency, leading to lower initial and operating costs.
In 2018, Toshiba entered a joint development agreement with CBMM, headquartered in São Paulo, Brazil, and Sojitz Corporation of Japan
to commercialize this battery. As part of this collaboration, a real-world demonstration of electric buses equipped with this battery began
in June 2024 at CBMM’s Araxá Mine in Minas Gerais, Brazil.*³
In recent years, the threat of terrorism in public spaces—impacting both the general public and high-profile individuals—has increased. In
response, Toshiba is advancing the development of a secure space management solution that utilizes millimeter-wave radar technology,*¹
originally designed for automotive applications. This system rapidly detects hazardous objects hidden inside clothing, without requiring
individuals to stop for screening.
Familiar body scanners, like those at international airport security checkpoints, use microwave radar,*² requiring approximately 3 to 5
seconds per scan. These systems necessitate stationary inspections, limiting their usability to high-traffic areas. In contrast, our new
millimeter-wave radar-based system detects concealed hazardous items in under one second, allowing for seamless, walk-through
screening. This innovation eliminates the need for individuals to pause for inspection, making it ideal for train stations, shopping malls,
event venues, and other public spaces.
Designed with flexibility and ease of deployment in mind, the system allows for software-defined customization, enabling calibration at
installation and AI-driven hazard detection to be tailored to specific operational environments. This enhances both deployment efficiency
and operational effectiveness.
At CEATEC 2023, Japan’s premier electronics trade show, this system received the Minister for Internal Affairs and Communications Award
as part of the CEATEC AWARD 2023. It was recognized for its modular hardware design, which enables functionality to be defined via
software for versatile applications, as well as its potential for non-destructive inspections using millimeter-wave technology across multiple
industries. Additionally, the system was highly evaluated for its practicality and market potential. Toshiba is committed to further refining
this technology and accelerating its implementation in real-world applications.
Examples of R&D Contributing to Addressing Social Challenges
At the opening ceremony to mark the launch of EV bus demonstration project by
Toshiba, Sojitz, and CBMM
Image of the walk-through hazard detection system using millimeter-wave imaging
radar
Development of a Lithium-Ion Battery with Ultra-Fast Charging and Long Lifespan, Offering Energy
Density Equivalent to LFP Batteries
Development of a Walk-Through Hazard Detection System Using Millimeter-Wave Radar for Secure
Space Management Solutions
*1 The amount of energy stored per unit volume
*2 Toshiba comparison. Based on partial charge and discharge cycles within a certain capacity range (not full charge and discharge cycles) assumed for ultra-fast charging cycles.
*3 Press Release, “Toshiba, Sojitz and CBMM Unveil an Ultra-Fast Charging Electric Bus Prototype Powered by Next-Generation Lithium-ion Batteries with Niobium Titanium Oxide Anodes -Now in
demonstration operations at CBMM’s industrial plant in Araxá, Brazil, further paving the way to battery commercialization-” (Announced on June 20,2024)
*1 Millimeter waves have a frequency range of 30 GHz (gigahertz) to 300 GHz and a wavelength range of 1 millimeter to 1 centimeter. They have excellent resolution compared to microwaves. They also have
high transparency, unlike visible light and infrared.
*2 Microwaves have a frequency range of 3 GHz to 30 GHz and a wavelength range of 1 centimeter to 10 centimeters. They are used in applications like wireless LAN, satellite communications, defense, and
weather radar.
Major Research and Development Centers
R&D Divisions and Development Centers in Japan
Toshiba China Co.Ltd
(TCH) R&D Center
Toshibas America Inc
(TAI) R&D Division
Toshiba Software
Development
Vietnam Co., Ltd
Toshiba Software India
Private Limited
R&D Division
Dusseldorf
Tel Aviv
Bengaluru
Hanoi
Beijing
San Jose
Toshiba Europe
Limited
Toshiba Europe GmbH (TEG)
Regenerative Innovation Centre (RIC)
Cambridge Research
Laboratory
Bristol Research and
Innovation Laboratory
Israel Development Office
Cambridge,
Bristol
Corporate Research &
Development Center
Corporate Manufacturing
Engineering Center
Digital Innovation
Technology Center
Energy Systems Research and Development Center
Infrastructure Systems Research and Development
Center
Software System Technology Development Center
Research & Development Center
Sustainability
Businesses
Data Section
Business Results
Strategies
Strategies
Toshiba Integrated Report 2024
17
18
Toshiba Integrated Report 2024
Toshiba Group Technology Strategy
Enhancing the BRL of R&D themes requires a strong focus on rule-making activities, including standardization. This must encompass both
de jure standards—international standards (ISO, etc.) and national standards (JIS, etc.)—and forum standards developed by industry
groups, forums, and consortia.
At lower levels of BRL, the aim is to identify and analyze existing standards and regulations. At medium levels, open/close strategies are
devised, and rule creation is promoted as a way to establish open areas within industries. At higher levels, leveraging rules and standards
facilitates market entry by multiple stakeholders, driving further market expansion. By aligning with this approach to rulemaking, we aim
to contribute to society’s sustainable development.
Toshiba Energy Systems &
Solutions Corporation
Toshiba Infrastructure Systems &
Solutions Corporation
Toshiba Electronic Devices &
Storage Corporation
Toshiba Digital
Solutions Corporation
Energy
IoT
Security
Data
Communi-
cations
QKD
Infrastructure
Semiconductors
Data
Focused themes of standardization
Targets of standardization
Structure of standardization
Corporate Research & Development Center
Chief Standardization Officer (CSO)
Toshiba Corporate Technology Planning Division
Separate
strategies
Separate
strategies
Separate
strategies
Separate
strategies
QX
DX
DE
Structure and focused themes of Toshiba’s standardization activities
Based on Innovation Management System(ISO 56002)
Business
Readiness
Level
(BRL)
Promoting
commercialization
of new businesses
Accelerate growth
of existing
businesses
• Technology strength
• Remaining technical issues
• Development capabilities
(including human resources)
• Business models
• Capabilities
• Human Resources/Leadership
• Alignment with management
philosophy and policies
• Leverage Toshiba brand and
business assets
• Market size, regional expansion
Technology Readiness Level (TRL)
Technical Capabilities/Potential
Product Capabilities
Why Toshiba?
Business
Technology
9
7
5
3
1
1
Opportunity
identification
3
5
7
9
Identify
opportunities
Create concepts
Gate
Validate concepts
Gate
Gate
Develop
solutions
Deploy
solutions
Gate
Concept
creation
Concept
creation
Concept
verification
Concept
verification
Solution
development
Solution
development
Technical
Challenge
Theme
Technical
Challenge
Theme
Business
Challenge Theme
Business
Challenge Theme
Commercialization
Review Theme
Commercialization
Review Theme
Solution
deployment
Solution
deployment
Identify
opportunities
Gate
Create concepts
Validate concepts
Gate
Gate
We recognize continuous innovation as the key driver of success. Drawing on the principles of the Innovation Management System defined
in the ISO 5600 series of standards, we bring a structured approach to managing R&D, and assess research topics through multiple gate
evaluations based on five key criteria:
1. Business Readiness Level (BRL)
2. Technology Readiness Level (TRL)
3. Technical Strength and Potential
4. Product Competitiveness
5. Why Toshiba? (Validate the strategic significance of pursuing commercialization within Toshiba.)
This framework ensures the timely delivery of innovative products and services aligned with societal needs and contributes to sustainable
growth.
The Chief Standardization Officer (CSO) oversees Toshiba’s standardization and rule-making activities, with the Corporate Technology
Planning Division operating under the CSO’s leadership as the central hub for coordinating efforts across corporate R&D and four key group
companies.
The division supports rulemaking at key group companies by gathering and sharing relevant information, developing strategies in
collaboration with business units, and disseminating best practices. It integrates these activities with intellectual property strategies in
order to maximize the impact of open/close approaches, working in close collaboration with the intellectual property team.
A notable example of our standardization efforts is our leadership in IEC Technical Committee 120 on “Electrical Energy Storage Systems.”
We played a pivotal role in setting up the committee, and continue to promote progress by providing its secretariat.
Beyond current business areas, in alignment with our management vision, we are extending our participation in promoting standardization
to DE, DX and QX. Initiatives here include contributing to IEC’s Subcommittee 3D, “Product Classes, Properties, and Identification –
Common Data Dictionary (CDD)” in support of digitizing the carbon footprint of products (CFP) and advancing quantum cryptography
communications standards.
Looking to the future and Toshiba Group’s long-term development, we will continue to advance standardization as critical to sustained
growth and innovation.
Innovation Management in Research and Development
Framework for Rule-Making Activities
Innovation Management and Rule-Making Activities
Management of Research and Development Themes Based on Innovation Management
Collaboration
Promotion of activities
Sustainability
Businesses
Data Section
Business Results
Strategies
Strategies
Toshiba Integrated Report 2024
19
20
Toshiba Integrated Report 2024
Intellectual Property
Toshiba Group promotes a co-creation cycle that generates new value through three key initiatives:
1. Developing an intellectual property strategy with a holistic perspective
2. Optimizing intellectual property assets
3. Managing intellectual property through an open/close approach
“Developing an intellectual property strategy with a holistic perspective” is the most important step. From the early stages of business
design, we take a comprehensive view of the landscape, considering changes in the external environment, the company’s patents,
intellectual assets such as know-how, and overall management and business strategies. We evaluate how intellectual property can be
leveraged and linked to the value provided to customers, while taking into account transformations such as DE (Digital Evolution), DX
(Digital Transformation), and QX (Quality Transformation) as well as the utilization of data.
“Optimizing intellectual property assets” is another critical step. This involves executing the intellectual property strategy by accurately
assessing how our core-value intellectual assets—including not only intellectual property rights but also technology, know-how, human
resources, skills, and brands—are structured. Any missing intellectual property is acquired, while confidential information, such as know-
how, is safeguarded through strict secrecy measures to prevent leaks. Through these efforts, we are enhancing and refining the quality of
our intellectual property portfolio.
“Managing intellectual property through an open/close approach” is an essential cycle. On the “close” side, we secure sustainable business
competitiveness by protecting differentiating technologies through patents and safeguarding proprietary know-how. On the “open” side,
we explore standardization while utilizing an optimized intellectual property portfolio to collaborate with corporate partners and
customers. This collaboration expands opportunities to address societal challenges that Toshiba Group alone cannot resolve, ultimately
contributing to the maximization of corporate value.
The Strategic Planning Group, Legal & Contract Group, and Licensing & Litigation Group of the Intellectual Property Office are responsible
for developing intellectual property strategies that take a comprehensive view of management and business strategies, changes in the
external environment, and intellectual assets. They also formulate intellectual property policies that apply across Toshiba Group by swiftly
gathering information on legal amendments and other regulatory changes, as well as providing analyses, recommendations, and insights
based on patent data and other information. Additionally, they handle intellectual property compliance matters, including those related
to Copyright Act and Unfair Competition Prevention Act, as well as intellectual property education, securing business advantages, and
managing contracts and dispute resolution with a forward-looking approach to risk mitigation.
Meanwhile, the Intellectual Property Division, which is dedicated to research laboratories and business units, develops intellectual
property strategies tailored to each development and business domain, working to build and optimize intellectual property portfolios. To
drive its global intellectual property strategy, Toshiba has intellectual property specialists stationed in both the United States and China.
Regarding investment in intellectual assets and the allocation of management resources, as well as the execution of business portfolio
strategies, executive officers report on progress to the Board of Directors, which provides oversight and guidance.
Basic Policy
Organizational Structure
Board of Directors
Responsible officer
Corporate Technology
Planning Division
Instructions
Support
Support
President & CEO
Energy System Solutions
・ Toshiba Energy System & Solutions Corporation*
・ Toshiba Plant Systems & Services Corporation
Corporate Manufacturing
Engineering Center*
*A dedicated intellectual property specialist is assigned
・Toshiba America, Inc*
・Toshiba(China)Co., Ltd.*
Battery Division*
Intellectual Property
Office
Strategic Planning
Licensing &
Litigation
Legal & Contract
Corporate Research &
Development Center*
Report/information Provision/Proposal
Infrastructure System & Solutions
・ Toshiba Infrastructure System &
Solutions Corporation*
Building Solutions
・ Toshiba Elevator and Building Systems Corporation*
・ Toshiba Lighting & Technology Corporation*
Retail & Printings Solutions
・ Toshiba Tec Corporation*
Device & Storage Solutions
・ Toshiba Electronic Devices & Storage Corporation*
・ Toshiba Materials Co., Ltd.*
Digital Solutions
・ Toshiba Digital Solutions Corporation*
As of January 1, 2025
Sustainability
Businesses
Data Section
Business Results
Strategies
Strategies
Toshiba Integrated Report 2024
21
22
Toshiba Integrated Report 2024
Intellectual Property
As part of the education on the Standards of Conduct for Toshiba Group, employees in Japan receive annual e-learning training to reinforce
their understanding of the Standards of Conduct regarding intellectual property rights, with a particular focus on raising awareness of
copyright-related issues. The participation rate for FY2023 was 99.6%.
Newly hired employees undergo general intellectual property training as part of the Corporate Entry Program. This is followed by level-
specific training programs tailored to the policies and needs of each business division.
Our subsidiaries in China, South Korea, Hong Kong, and Taiwan provide copyright education on topics such as the proper use of software,
while our U.S. subsidiaries conduct intellectual property education programs tailored to regional requirements, utilizing a Learning
Management System. In this way, Toshiba Group ensures that its overseas subsidiaries receive region-appropriate intellectual property
education.
Employees working in intellectual property follow a basic training program designed to ensure they can perform practical tasks within two
years. This includes acquiring knowledge of intellectual property rights in Japan and overseas, learning to draft patent specifications, and
on-the-job training and intermediate processing exercises.
Toshiba Group hosts the Toshiba Group Patent Conference annually, recognizing outstanding inventions with the “Excellent Invention
Awards.” In 2023, the conference awarded:
Five Business Contribution Prizes to honor inventions that made significant contributions to the company’s business.
Two Future Value Creation Prizes for inventions expected to contribute to business growth or provide value to society in the future.
Education in Intellectual Property
The final stage of the conference featured a special lecture by an external guest speaker and multiple webinars under the theme “Connecting
Intellectual Property, Bridging Industries.” These sessions aimed to foster an intellectual property mindset and discover new perspectives
on intellectual property activities. Moving forward, we will continue to enhance the environment to facilitate invention and strive to further
motivate employees to innovate.
Reflecting our global expansion, more than half of our patent applications are filed internationally, with a particular focus on the United
States and China. In each business domain, we carefully select and file patents to build an optimal portfolio aligned with our intellectual
property strategy.
The number of patent applications filed over the past three years is detailed below.
Toshiba Group Patent Conference
For All Employees
For Intellectual Property Employees
Number and Breakdown of Patents Filed (April 2021-March 2024)
Number and Breakdown of Patents Owned (as of March 2024)
Each year, we conduct a comprehensive evaluation of all registered patents and create an optimized portfolio for each business domain
based on the results.
Global Patent Portfolio
Representatives of the award winners
Number of
Patents Filed:
19,500
from FY2021
to FY2023
By business
domain
Number of
Patents Filed:
19,500
from FY2021
to FY2023
By region
Energy Systems
& Solutions
10.5%
Japan
47%
Other
0.5%
Laboratories
25.5%
Battery Business
1.0%
Digital Solutions
2.0%
Electronic Devices
& Storage Solutions
19.5%
United States
24%
China
12%
Other
13%
PCT
4%
Infrastructure Systems
& Solutions
11.5%
Retail & Printing
Solutions
21.5%
Building Solutions
8.0%
Infrastructure Systems
& Solutions
15%
Retail & Printing
Solutions
19%
Building Solutions
10%
Other
0.5%
Laboratories
15.5%
Battery Business
4%
Digital Solutions
4%
Electronic Devices
& Storage Solutions
20%
Number of
Patents Owned:
45,000
FY2023
by business
domain
Number of
Patents Owned:
45,000
FY2023
by region
Energy Systems
& Solutions
12%
Japan
47%
United States
27%
China
9%
Other
17%
Sustainability
Businesses
Data Section
Business Results
Strategies
Strategies
Toshiba Integrated Report 2024
23
24
Toshiba Integrated Report 2024
Intellectual Property
Intellectual Property
United States
5%
Europe
9%
Asia
(excluding China)
14%
Middle East
6%
China
65%
Others
1%
Breakdown of Incidents of Counterfeit Products
by Country and Region in FY2023
FY2019
FY2020
FY2021
FY2022
FY2023
(Cases)
234
195
212
208
195
Trends in Incidents of Counterfeit Products up to FY2023
The Toshiba brand represents the corporate value of Toshiba Group, as well as the quality and reliability of the products and services we
provide. To ensure the protection of the Toshiba brand, we actively manage trademark rights and take measures to eliminate counterfeit
products.
Failure to address counterfeit Toshiba products not only undermines our brand value and public trust, but also poses risks to customers
who may mistakenly purchase counterfeits that do not meet expected quality standards. Additionally, counterfeit products increase the
risk of accidents.
To combat this issue, we actively work to eradicate counterfeit products, collaborating with anti-counterfeit organizations in Japan and
internationally and engaging with local government agencies to advocate for stronger enforcement measures.
Protection of Toshiba Brand
Net income resulted in a net loss of 74.8 billion yen, due to the equity
losses from Kioxia Holdings Corporation (-87.3 billion yen), booked tax
expenses, etc.
Business performance in the first half of FY2024 saw a significant improvement over the same period last year, driven by strong performances in HDDs,
Power Generation Systems, and Retail & Printing. Additionally, the Building Solutions segment, which posted a loss last year, showed improvement.
Operating income of 70.5 billion yen was 3.2 times higher than for the same period last year, and marked the highest record since its business portfolio was
changed in fiscal year 2018 to exclude the memory business. This was largely due to the result of management reforms, such as pricing strategies and fixed
cost reduction. Net income also increased significantly year-on-year, driven by improved equity earnings from Kioxia Holdings Corporation.
Free cash flow improved due to better working capital management,
resulting in cash inflow of 109.6 billion yen.
Financial Highlights (Consolidated)
Net sales
(Yen in billions)
Net sales
(Yen in billions)
Operating income
(Yen in billions)
Net income (loss)
(Yen in billions)
Net sales for Retail & Printing and Infrastructure Systems increased due to
higher volumes; however, overall net sales decreased year-on-year,
primarily due to the impact of the sale of Toshiba Carrier Corporation
(-94.9 billion yen), resulting in total net sales of 3,285.8 billion yen.
Operating income/Return on sales (ROS)
Operating profit was positively impacted by strong performances in
Public Infrastructure, Transmission & Distribution Systems, and Power
Generation Systems. On the other hand, it was negatively impacted by
losses, such as provisions for product warranties in HDDs and Power
Generation Systems (-36.8 billion yen), cost reassessments in projects
(-30.8 billion yen), and goodwill impairment in the Printing business (-11.5
billion yen), resulting in total operating income of 39.9 billion yen.
Net income (loss)
(Yen in billions)
Cash flows
(Yen in billions)
FY2019
FY2020
FY2021
FY2022
FY2023
3,389.9
3,054.4
3,337.0
3,361.7 3,285.8
FY2019
FY2020
FY2021
FY2022
FY2023
Operating income (Yen in billions)
Return on sales (ROS) (%)
130.5
3.8
3.4
104.4
4.8
158.9
3.3
110.5
1.2
39.9
FY2019
FY2020
FY2021
FY2022
FY2023
-114.6
114.0
194.7
126.6
-74.8
FY2019
FY2020
FY2021
FY2022
FY2023
Cash flows from operating activities
Cash flows from investing activities
Free cash flow
-264.7
-142.1
-122.6
38.5
-106.6
145.1
124.7
-124.5
-88
249.2
25.2
34.0
109.6
-121.1
230.7
FY2023
FY2024
H1
H2
1,788.1
1,497.7
1,621.9
1,621.9
FY2023
FY2024
H1
H2
17.6
22.3
70.5
70.5
FY2023
FY2024
H1
H2
-22.7
-52.1
116.3
116.3
First-Half Results for FY2024: Year-on-Year Comparison
Performance Trends Over the Past 5 Years
Toshiba Group’s state-of-the-art technologies and the Toshiba brand are widely recognized and highly
valued by society. Below is a list of key awards and recognitions we have received in the field of intellectual
property.
Evaluation by External Parties
Clarivate, a global information services company, has selected Toshiba for 13 years running as one of the
Clarivate Top 100 Global Innovators™, a list of the best 100 innovative companies and institutions around the
world, based on Clarivate’s patent data analyses.
Our high-safety battery module and energy storage system has been recognized by the Japan Institute of Invention and Innovation (JIII) in
its program to honor outstanding inventions. This system was awarded the Invention Encouragement Prize. Equipped with enhanced fail-
safe mechanisms, the system achieves the high safety standards required for mass transportation fields, such as railways.
The system’s protection mechanism features multiple independent circuits for detecting over-temperature and over-voltage. These circuits
monitor for abnormalities within their respective systems, preventing fault propagation from one system to another and significantly
improving reliability.
Battery Module Type-S and component products, which incorporate this invention, employ a configuration of two parallel and 12 serial
battery cells. They have achieved Safety Integrity Level 4 (SIL4) of the RAMS (Reliability, Availability, Maintainability, and Safety) standard,
the highest safety level. These products are now being deployed both in Japan and international markets.
Selected for Clarivate Top 100 Global Innovators™ 2024
“High-Safety Battery Module and Energy Storage System” Wins the Kanto Region Invention Encouragement Award for FY 2023
Sustainability
Businesses
Data Section
Business Results
Strategies
Strategies
Business Results
Toshiba Integrated Report 2024
25
26
Toshiba Integrated Report 2024
Non-Financial Highlights (Consolidated)
Number of Reports Received via the Whistleblower System
Number and Percentage of Female Employees in Managerial
Positions in Toshiba Corporation and Key Group Companies*⁵
Total GHG Emissions (Scope 1+Scope 2)*¹
(10,000t-CO2)
Lost Time Injury Frequency Rate (LTIFR)*⁶ at Toshiba
Group in Japan
Number of female exempt employees
Percentage of female exempt employees (%)
5.8
6.2
5.5
327
333
FY2021
FY2022
340
FY2023
National LTIFR Average for the Electrical Appliance Industry
LTIFR at Toshiba Group in Japan
0.54
0.16
0.53
0.18
0.54
0.23
FY2021
FY2022
FY2023
148
(141/7)
133
(127/6)
34
32
Number of Cases Reported via Toshiba Hotline
Number of Cases Reported via Audit Committee Hotline
FY2021
FY2022
137
(131/6)
25
FY2023
FY2021
FY2022
FY2023
103
77
54
95%
110%
91%
FY2021
FY2022
FY2023
FY2021
FY2022
FY2023
3.0
2.3
3.0
*5 Sum of the figures for Toshiba Corporation, Toshiba Energy Systems & Solutions Corporation,
Toshiba Infrastructure Systems & Solutions Corporation, Toshiba Electronic Devices & Storage
Corporation, and Toshiba Digital Solutions Corporation
*6 The number of lost time injuries occurring in a workplace per one million man-hours worked
Note: Includes incidents involving part-time, temporary, fixed-term, and dispatched workers.
*2 Obtained by deducting the volume of objects with value from the total volume of waste
generated (excluding sites engaged in waste treatment and power generation).
*1 CO2 emissions from electricity are calculated using emission coefficients provided by power
companies.
Notes:
- Includes duplicate reports made to the internal secretariat
- Numbers in parentheses (Cases received by the internal secretariat/cases received by the
attorney’s office)
*3 The rate of improvement per unit activity of output with FY2020 as 100%.
*4 Basic-unit uses values such as production output, the number of products manufactured, the
number of people, the total floor area, etc., that are related to the amount of water received
associated with manufacturing.
Waste Volume*²
(10,000t)
Rate of Improvement*³ of the Amount of Water Received
per Unit Activity*⁴
Business Domains
The scope of our business embraces large-scale power generation systems for nuclear
and thermal power, along with renewable energy generation systems for hydro,
geothermal, solar, and wind power. Our related businesses include power transmission
and distribution systems that deliver electricity directly to end users, virtual power
plants (VPPs) for the efficient utilization of distributed energy sources, and green
hydrogen energy systems that harness renewable energy.
Energy Systems & Solutions
p. 29
For many years, we have provided products, systems, and services to public-sector
customers responsible for maintaining the infrastructure of essential utilities. In
coming years, we will fully embrace IoT and artificial intelligence (AI) in order to
establish safer, more secure, and more convenient social infrastructure systems.
Infrastructure Systems & Solutions
p. 31
Building Solutions
p. 33
Our portfolio covers elevators & escalators for buildings and facilities, ventilation, and
lighting, all essential to the day-to-day comfort of people. Through these businesses,
we also offer energy-saving, environmentally conscious products and services, as well
as building solutions that improve building security and reliability.
Electronic Devices & Storage Solutions
p. 35
We anticipate steady growth, and are promoting expansion in our electronic devices &
storage solutions business by focusing on semiconductors for automobile and
industrial use, large-capacity HDDs for data centers, semiconductor manufacturing
equipment, and parts and materials. By supplying high value-added products, we will
contribute to the achievement of carbon neutrality, the development of a digital
society and the realization of a safe and secure society.
Digital Solutions
p. 37
Others (Battery Business)
p. 39
By utilizing the knowledge that Toshiba has amassed across numerous business
domains, along with cutting-edge technologies like IoT, AI and quantum related
technologies, we create digital solutions that provide our customers with new value
and services, and that enrich the wider society.
We develop, manufacture, and sell the “SCiB™,” a rechargeable lithium-ion battery
that is highly safe, has a long lifetime, recharges fast, and operates in low temperatures.
The SCiB™ is used in many fields—in automobiles, railways, industrial equipment like
automated guided vehicles, and even in large-scale stationary power storage system,
where it regulates the frequency of renewable energy generation.
We are expanding our business by bringing the SCiB™ into markets where its unique
characteristics make a difference, whether it be a reduction of the carbon footprint
and operating costs through the electrification of systems, or improved reliability from
the establishment of an emergency battery system.
Toshiba Energy Systems & Solutions Corporation
Toshiba Plant Systems & Services Corporation
Energy Business Domain:
Toshiba Infrastructure Systems & Solutions
Corporation
Social Infrastructure Business Domain:
Toshiba Elevator and Building Systems
Corporation
Toshiba Lighting & Technology Corporation
Building Solutions Business Domain:
Retail & Printing Solutions
Toshiba Tec Corporation
Toshiba Electronic Devices & Storage Corporation
NuFlareTechnology, Inc.
Electronic Devices Business Domain:
Toshiba Digital Solutions Corporation
Digital Solutions Business Domain:
Sustainability
Businesses
Data Section
Business Results
Strategies
Business Results
Businesses
Businesses
Toshiba Integrated Report 2024
27
28
Toshiba Integrated Report 2024
Signing of Memorandum of Understanding with Indonesia’s State Electricity
Company Group to Promote the Application of CO₂ Capture Technology in
Thermal Power Plants
Partnering with Airbus on Superconducting Technology for Future Hydrogen-
Powered Aircraft
Investment of 20 Billion Yen to Expand Production Capacity for Power
Transmission & Distribution Equipment
Partnering with Bekaert on MEA technology for PEM electrolyzers to accelerate
the advance towards green hydrogen production
Main Business Areas
In August 2024, Toshiba Energy Systems & Solutions Corporation (ESS) signed a memorandum of
understanding (MOU) with PLN Nusantara Power (PLN), a subholding company of Indonesia’s state electricity
company, to explore the application of Toshiba’s carbon capture technology in thermal power plants owned
by PLN. Based on this MOU, both companies will study the feasibility of introducing small- and large-scale CCS
equipment for thermal power plants over the medium to long term.
More than 80% of Indonesia’s electricity supply depends on thermal power generation, and the Indonesian
government has set a goal of achieving carbon neutrality by 2060. As the introduction of low-carbon
technologies for fossil fuel use, particularly CCS technology, is gaining importance, the study will focus on the
deployment of CCS equipment at power generation facilities directly owned and operated by PLN, including
the Paiton coal-fired power plant Units 1 and 2, which are located in Indonesia’s largest power plant complex
and where Toshiba has delivered key equipment such as turbines and generators.
ESS will leverage its expertise in minimizing energy consumption in CCS equipment
and its extensive know-how gained from long-term supply and maintenance of
power generation equipment, using operational data provided by PLN to evaluate
CO₂ capture technologies, and conduct feasibility studies. Additionally, the company
will support the development of PLN’s technical personnel.
To date, ESS has delivered 32 steam turbines (totaling 8,263MW) for thermal and
geothermal power plants in Indonesia, including 9 turbines (totaling 1,845MW) for
power plants operated by PLN. This MoU represents a collaborative effort that
combines Toshiba’s knowledge of CCS technology and the network we have built up
in Indonesia with PLN’s operational know-how to promote the deployment of CCS
equipment, thereby contributing to Indonesia’s goal of achieving carbon neutrality.
In October 2024, ESS and Airbus UpNext, a wholly owned subsidiary of Airbus, initiated joint research to
realize superconducting technologies for hydrogen-powered aircraft. Superconducting technologies offer a
unique advantage for the aircraft, using -253°C liquid hydrogen as a fuel but also to efficiently cool the electric
propulsion systems, and hydrogen-powered aircraft are seen as a promising solution for realizing net-zero
CO₂ emissions by 2050, while superconducting technologies are an innovative approach enhancing energy
efficiency and performance.
ESS has been conducting research and development of superconducting technology applications for almost
50 years. In June 2022, it unveiled a prototype 2 MW-class superconducting motor designed for mobility
applications. Less than a tenth of the size and weight of conventional motors with the same level of output,
Increased use of renewable energy is driving global demand for power transmission and distribution (T&D)
equipment. ESS is responding robustly, and from FY2024 to FY2026 it will invest approximately 200 billion yen
in enhanced production capabilities. It will boost capacity by approximately 1.5 times (against FY2023) at
Hamakawasaki Operations in Kanagawa Prefecture, Japan, and at Toshiba Transmission & Distribution
Systems (India) Pvt. Ltd. (TTDI), in India.
Hamakawasaki Operations will reinforce assembly lines for switchgears and transformers. TTDI will improve
assembly and testing lines for distribution and power transformers, and establish a new manufacturing facility
for surge arresters in the first half of FY2024, ready to start sales in the second half.
Toshiba has manufactured highly reliable T&D equipment for global markets for over a century. Today, it uses
digital technologies to strengthen operation and maintenance services, realizing more efficient equipment
operation and extended product lifespans.
In Japan, demand for T&D is increasing with the wider use of renewables, the need to replace aging
infrastructure and the rapid growth of data centers. Toshiba recognizes T&D as a key business and is committed
to expanding manufacturing capabilities, advancing new technologies, and realizing innovations that
contribute to carbon neutrality and enhanced social infrastructure.
In February 2024, Toshiba Energy Systems and Solutions Corporation and Bekaert, a Belgian company,
entered into a global partnership which includes a strategic cooperation agreement, and a manufacturing
technology license for Membrane Electrode Assemblies (MEA), a key component for Proton Exchange
Membrane (PEM) electrolyzers. This partnership aims to accelerate progress in green hydrogen production,
and formalizes the recent collaboration to leverage technological, manufacturing and commercial strengths
of both companies since signing a Memorandum of Understanding in September 2023.
PEM electrolyzers use electricity to split water into its component elements of oxygen and hydrogen. When the
electricity is from a renewable energy source, the hydrogen is produced without any greenhouse gas emissions.
The catalyst in PEM anode electrodes uses iridium, one of the scarcest traded metals. Consequently, solutions
that reduce iridium content present a significant break-through towards the scale adoption of these technologies.
Under the agreement, Bekaert’s leading expertise in Porous Transport Layers (PTL), a key
component in the MEA of water electrolyzers, will be coupled with Toshiba’s innovative
iridium-saving technology for MEA, which will enable a 90% reduction in iridium usage in the
production of PEM electrolyzers. This reduction in iridium will enable a more stable supply of
MEA and support the scale expansion of green hydrogen production.
Toshiba’s advanced iridium-saving MEA technology, coupled with Bekaert’s longstanding
expertise in PTL, forms a promising partnership that will effectively meet the rapid growth in
demand and contribute significantly to the realization of a green hydrogen society.
Power Generation Systems
(Nuclear Power, Thermal Energy and
Renewable Energy)
Power Generation Business
(Renewable Energy)
Transmission and Distribution
Systems
Virtual Power Plant (VPP)
Hydrogen Energy Systems
Energy Digital Service
Heavy-ion Therapy System
Energy Systems & Solutions
the new motor has the potential to contribute to large mobility
applications, including aircraft. Through their collaboration, ESS and
Airbus will combine their expertise to accelerate development of
superconducting motor technology and the adoption of next-
generation technologies in the aerospace sector.
ESS is also exploring carbon recycling that uses an electrolysis-based
power-to-chemicals (P2C) process to covert CO₂ in exhaust gases into
sustainable aviation fuel (SAF). Through these efforts, Toshiba seeks
to bring diverse solutions to the mobility industry and to contribute
to the realization of a carbon-neutral society.
Nuclear Power/Thermal Power
Photovoltaic
T&D
Fukushima Hydrogen Energy
Research Field (FH2R)
Failure Prediction/Performance
Monitoring Service for Power
Plant and Power Grid System
Heavy-ion Therapy System
(Yonsei University Health
System)
Hydro Power
Geothermal Power Wind Power
Photo from the signing ceremony
The signing ceremony
Image of Toshiba’s MEA
Sustainability
Businesses
Data Section
Business Results
Strategies
Businesses
Toshiba Integrated Report 2024
29
30
Toshiba Integrated Report 2024
TISS participated in a pilot project to test the viability of a QR Code®*¹-enabled digital boarding service for
train and bus services. The project was carried out by two operators of rail services, Central Japan Railway
Company (JR Central) and Nagoya Railroad Co., Ltd. (Meitetsu), and a bus company, Kitaena Kotsu Co., Ltd.
(Kitaena Kotsu), along two sections of the JR Chuo Main Line,*² Nagoya Station to Nakatsugawa Station and
Tajimi Station to Nakatsugawa Station. It ran from September 20 to December 8, 2024, and TISS provided its
“Doco-Tick™” QR code ticketing platform and an external QR code reader system for automatic ticket gates.
Meitetsu contributed to the project with CentX, its regional mobility-as-a-service app, which integrated
support for the Doco-Tick™ platform and two tickets: the Magome Excursion Ticket covering train routes, and
the Magome Free Ticket for the Magome bus route operated by Kitaena Kotsu. The aim was to evaluate the
feasibility and convenience of integrating urban rail and regional bus services into a unified digital boarding
system.
TISS proactively collaborates with railway operators to promote digital boarding services, and has provided
“Doco-Tick™” and external QR code reader systems for ticket gates to a number of pilot projects. The company
continues to develop new rail services and contribute to more convenient and secure public services.
Toshiba Industrial Products & Systems Corporation’s (TIPS) synchronous reluctance motor and dedicated
inverter, launched in October 2023, achieves IE5 efficiency standards (IEC/TS 60034-30-2:2016*) and
contributes to resource conservation with a magnet-free design.
As companies worldwide bring the SDGs into their corporate strategies, tackling climate change by reducing
greenhouse gas emissions has become a priority. TIPS’s synchronous reluctance motor is designed for easy
interchangeability with standard three-phase induction motors with the same frame size, while
delivering IE5-level* ultra-high efficiency, reducing energy consumption and CO₂ emissions. It is
an environmentally friendly solution that also eliminates the use of rare-earth magnets in the
rotor.
TIPS is advancing carbon neutrality by bringing energy-efficient solutions to the market,
addressing the challenges of climate change, promoting initiatives for a circular economy, and
anticipating customer needs.
Toshiba Infrastructure Systems & Solutions Corporation (TISS) has achieved a notable first*¹ in sewage
treatment: the combination of a rotating fiber unit with the Oxidation ditch (OD) process.*² Launched in July
2024, Habuki™ delivers an innovative pretreatment system using rotating fiber unit. It is expressly designed for
sewage treatment facilities that employ the OD process, which currently applied around 1,000 in Japan alone.
Installed upstream of OD facilities, Habuki™ conduct low-power, highly efficient pretreatment that significantly
reduces the pollution load on the reaction tanks that decompose and remove contaminants from wastewater.
In a comprehensive development process, TISS carried out joint research with the Japan Sewage Works
Agency. Full-scale demonstration testing at the Ujiie Water Treatment Center in Sakura City, Tochigi Prefecture,
from April 2022 to December 2023, confirmed that Habuki™ enhanced treatment capacity
and improved energy efficiency, opening the way to official commercialization.
Sewage treatment facilities face many issues, including fluctuating inflow patterns from
demographic shifts, facility optimization and expansion through regional consolidation,
measures to promote energy efficiency and carbon neutrality, and aging infrastructure.
TISS is determined to leverage its extensive expertise in infrastructure solutions, including
water treatment technologies and innovative wastewater management systems, to meet
global challenges such as carbon neutrality and infrastructure resilience.
Infrastructure Systems & Solutions
Order Received for Water Treatment Projects Under Trinidad and Tobago’s
National Water Sector Transformation Program
Launching Habuki™, a Pretreatment System for Oxidation Ditch Sewage
Treatment
In November 2024, Toshiba Water Solutions America Inc. (TWSA), a subsidiary of Toshiba Water Solutions
(TWS)—the Indian-based arm of TISS—announced the contracts from the Republic of Trinidad and Tobago.
The scope covers the construction of a new water treatment plant, expansion of another, and the rehabilitation
and refurbishment of three facilities.
TWSA has been active in the Caribbean basin since 2001, and has constructed 39 water and sewage treatment
facilities and also provided operation and maintenance (O&M) services to support safe and reliable water
supply systems. This extensive experience in engineering, procurement, and construction (EPC) has given it a
deep understanding of the region and its needs that was instrumental in securing the contracts.
TISS is working with TWS to expand its EPC and O&M services for municipal water and sewage plants and
industrial water treatment facilities across India, Central Asia, the Middle East, Southeast Asia, North America,
and Latin America. Its ultimate goal is to establish sustainable water recycling systems and develop
environmentally advanced communities worldwide.
Participation in QR Code®-Enabled Digital Boarding Service Pilot on the JR
Chuo Main Line
Product Launch of Synchronous Reluctance Motor and Its Dedicated Inverter
Water & Wastewater Treatment Systems
Substation Systems (UPS)
Disaster Management Systems
(Radio Transmission System)
Defense & Electronic Systems
(Air defense system)
Security & Automation Systems
(Letter Sorting Machine)
Broadcasting Systems
Security & Automation Systems
(De-palletizer)
Railway Systems
Industrial Computers
Industrial Systems
(Motor/Drive)
Synchronous Reluctance Motor
“Habuki™” – A pretreatment system for the oxidation
ditch (OD) process utilizing a rotating fiber unit
Main Business Areas
Water & Wastewater Treatment
Systems
Traffic Control Systems
Broadcasting Systems
Security & Automation Systems
Industrial Systems
Substation Systems
Disaster Management Solutions &
Telecommunications Systems
Defense & Electronic Systems
Railway Systems
Industrial Computers
*1
First-ever implementation in
Japan for sewage treatment
facilities, based on research
by TISS.
*2
The Oxidation Ditch (OD)
process is a wastewater
treatment method that uses
a continuous-loop channel
as a reaction tank, where
activated sludge treats
sewage, and solids are
separated from treated water
in a final sedimentation tank.
*1
QR Code® is a registered
trademark of DENSO WAVE
INCORPORATED.
*
The highest energy efficiency
standard currently defined by
the International
Electrotechnical Commission.
*2
The main trunk line running
between Tokyo and Nagoya.
The area covered by the
project serves the city and
its suburbs.
Note:
This service is currently
available only in Japan.
Note:
This product is currently
available only in Japan.
Sustainability
Businesses
Data Section
Business Results
Strategies
Businesses
Toshiba Integrated Report 2024
31
32
Toshiba Integrated Report 2024
Building Solutions
Delivery of 50 Elevators, Including 23 Units of Double-Deck Elevators,
to Azabudai Hills Mori JP Tower in Tokyo
Installed “ELCLOUD” at Eir Mansion Hakozaki Park – Conducting a Pilot Project
AI Image Analysis Service “ViewLED Solution” Expands with New Features to
Enhance Workplace Safety
Toshiba Elevator and Building Systems Corporation (Toshiba Elevator) supplied 50 units of elevators, including
23 units of double-deck elevators, to Azabudai Hills Mori JP Tower, which opened on November 24, 2023. The
64-story, 330-meter multi-purpose skyscraper has five basement levels. It offers large-scale office spaces, and
is home to Aman Residences Tokyo in collaboration with Aman, the world-renowned luxury resort brand, the
Keio University Center for Preventive Medicine, and The British School in Tokyo. It also houses an expansive
commercial facility.
8 units of high-capacity, high-speed double-deck elevators with a capacity of 68 passengers (34
per cabin) and a speed of 360 meters per minute are at the heart of the tower’s main vertical
transportation system.
Double-deck elevators enhance transportation efficiency in large skyscrapers with two vertically
stacked cars within a single hoistway, a configuration that significantly increases passenger
capacity and optimizes space utilization with more efficient and compact elevator installation
area.
The entrance floors of many high-rise buildings have higher ceilings, and floor heights can vary
throughout the structure. The adjustable floor height system of Toshiba’s double-deck elevators
automatically adjusts the vertical distance between the upper and lower cars to match the floor
height, a feature that provides greater architectural flexibility and seamless integration into
diverse building designs.
With more and more high-rise buildings constructed especially in urban areas, high-capacity,
high-speed elevators are essential for efficient transportation of passengers within buildings.
Toshiba Elevator’s advanced elevator technology create more comfortable and efficient vertical
transportation solutions for urban environments.
Toshiba Elevator installed a cloud-based service “ELCLOUD,” which enables robot integration and smartphone
calling at Eir Mansion Hakozaki Park, a residential building in Fukuoka, Kyushu, developed by Sakushu Shoji
Co., Ltd. In this project, the company conducted a proof of concept (PoC), linking the elevator and robot via
ELCLOUD. This service tested series of operations where a robot boarded and exited the elevator without
human intervention.
Through this PoC, Toshiba Elevator aims to offer an environment in which robots can move autonomously
between the upper and lower floors of residential buildings, improving the efficiency of building management
operations, and verify a robot-friendly environment.
In the Eir Mansion Hakozaki Park’s project, Toshiba Elevator collaborated with ugo, Inc., using their robot “ugo
mini” and robot integration interface “LCI” provided by Octa Robotics, Inc.
The ELCLOUD includes the Smartphone Calling Service, which allows passengers to call an elevator and
select their destination floor with their smartphones in advance. The Robot Integration Service enables
various robots to operate in tandem with elevators, while the Management Support Service supports
management work by monitoring the elevator’s operation status from PCs and tablets.
Toshiba Elevator is improving elevator convenience, expanding its data service business, and contributing to
smart residential environments and a more connected society.
ViewLED Solution, an innovative AI image analysis service developed by Toshiba Lighting & Technology
Corporation, integrates LED lighting and cameras into a single unit, ViewLED. AI analyzes images captured by
these ceiling-mounted units, realizing a tool that enhances safety and productivity in manufacturing
environments.
Toshiba Lighting & Technology Corporation continues to refine ViewLED. On its launch in April 2024, it offered
intrusion alerts for designated areas, forklift proximity detection, and solo work monitoring. Four more unsafe
behavior detection functions were added in September: failure to wear gloves, helmets, or protective eyewear,
and walking with hands in pockets, enhancements that add to efficient safety management and overall
workplace improvement.
The service delivers impressive capabilities. On-premises AI analysis delivers real-time alerts, while cloud
integration enables behavior tracking before and after detection, allowing analysis of root causes and
promotion of awareness initiatives. Combining lighting and cameras in ViewLED provides wide area coverage
with fewer blind spots, and helps to reduce workplace accidents and enhance safety awareness at
manufacturing sites.
Elevators
Escalators
Office Lighting
Stage Lighting System
External View of Azabudai Hills Mori JP Tower
ELCLOUD’s Robot Integration
Service
Intrusion
detection
Human flow
analysis
Task
analysis
Solution Services offer
Solution Services offer
Cloud AI Image Analysis Service
Data recording
and storage
Released in April 2024
Product released
in September 2024
On-premise AI Image Analysis Service
Safety Monitoring
Series
Hazardous
Proximity Alert for
People and Forklifts
Unsafe Behavior
Detection
Intrusion
Detection
Solo Work/
Congestion
Notification
Cloud Storage
& AI Analysis
On-premise
AI Analysis
Connecting Data
Main Business Areas
Elevators
Building Facilities
Materials for Electrical Construction
Automotive Light Sources, Industrial
Light Sources, UV Module
Escalators
Lighting Equipment, Airport Ground
Lighting System, Stage and Studio
Lighting System
UV Lighting
Note:
This service is currently
available only in Japan.
Note:
This service is currently
available only in Japan.
Capturing Images with
Camera-Equipped
LED Lighting
Sustainability
Businesses
Data Section
Business Results
Strategies
Businesses
Toshiba Integrated Report 2024
33
34
Toshiba Integrated Report 2024
*1
Production capacity of
200mm and 300mm wafer
lines (converted to 200mm
wafer equivalent)
*1
SmartMCD™ is a trademark
of Toshiba Electronic
Devices & Storage
Corporation.
*2
Arm® and Cortex® are
registered trademarks of Arm
Limited (or its subsidiaries) in
the US and other countries.
*2
MOSFET: Metal oxide
semiconductor field-effect
transistor
*3
IGBT: Insulated gate bipolar
transistor
Electronic Devices & Storage Solutions
Completion of New 300mm Wafer Power Semiconductor Manufacturing Facility
Toshiba Electronic Devices & Storage Corporation (TDSC) held a completion ceremony in May 2024 for a new
300mm wafer power semiconductor facility and office building at its group company, Kaga Toshiba Electronics
Corporation in Nomi, Ishikawa Prefecture. That set the scene for the installation of manufacturing equipment,
in readiness for the start of full-scale production in the second half of fiscal 2024. Once fully operational, the
new facility will boost production capacity*¹ for low-voltage MOSFETs*² and IGBTs*³ to 2.5 times that of
FY2021, the year TDSC decided to green light the construction. Plans for the facility’s second phase will be
based on market demand and trends.
The new facility is built to be resilient, with seismic isolation technology to reduce impacts from tremors and
dual power supply systems. It will strengthen TDSC’s business continuity plan (BCP) and ensure stable
operations even in the event of disaster, while deployment of advanced technologies, such as AI, will enhance
both product quality and production efficiency. The facility’s electricity is 100% renewable, supported by on-
site solar power generation under a power purchase agreement
(PPA) model. Part of the facility investment is expected to be
subsidized by the Ministry of Economy, Trade and Industry (METI)
under Japan’s Supply Chain Resilience Initiative for Semiconductors.
Power semiconductors play a critical role in the supply and control of
electric power, and are essential for improving the energy efficiency
of electronic devices. Demand for them is growing with advances in
vehicle electrification and high-efficiency industrial equipment, and
TDSC is ready for this. The company has produced power
semiconductors on a 300mm wafer line at the Kaga plant since the
second half of FY2022, and the increased production capacity of the
new facility will further contribute to the realization of carbon-
neutrality.
Launch of SmartMCD™ Series Gate Driver ICs with Embedded Microcontroller
TDSC started volume shipments of its SmartMCD™*¹ Series of gate driver ICs with embedded microcontrollers
(MCUs), in March 2024. The first product in this series, TB9M003FG, is well-suited for sensorless control of
three-phase brushless DC motors used in automotive applications, including electric water pumps, electric oil
pumps, fans, and blowers.
TB9M003FG combines an Arm® Cortex®-M0*² microcontroller, flash memory, power control and
communications interface functions into a gate driver for N-channel power MOSFETs used in three-phase
brushless DC motor drives. Its highly integrated design supports system miniaturization,
a lower component count, and advanced motor control, making it ideal for a wide
range of automotive motor applications. It also features Toshiba’s proprietary vector
engine, dedicated hardware for sensorless sinewave control, which reduces
microcontroller processing load and software size.
The expanding electric vehicle market demands greater electrification, component
integration, downsized electronic control units (ECUs), and quieter motors. Integration
of the microcontroller into the gate driver contributes to ECU downsizing, while vector
control enhances motor efficiency and reduces noise, addressing key needs in next-
generation automotive systems.
Sample Shipments Begin for High-Capacity 3.5-inch Nearline HDDs for Data
Centers
TDSC has launched sample shipments of its new Mx11 family of helium-sealed high-capacity hard disk drives
(HDDs) designed for data centers, cloud service providers, servers, and storage systems. The lineup includes
the MG11 Series offering capacities of up to 24TB using conventional magnetic recording (CMR). Additionally,
the MA11 Series, utilizing Shingled Magnetic Recording (SMR) for a maximum capacity of 28TB, has completed
functional verification, and sample shipments will commence in Q4 2024.
With constant growth in demand for cloud services, video streaming, AI, and data science, data generation
and storage is growing at an unprecedented rate worldwide. It is also driving demand for
higher-capacity HDDs that support more efficient data center architectures.
The new helium-sealed HDDs incorporate TDSC’s proprietary FC-MAMR™ (flux control-
microwave assisted magnetic recording)* technology, which realizes higher capacities
while maintaining reliability. Engineered for 24/7 operation, the drives offer a workload
rating of 550TB per year, an MTTF/MTBF of 2.5 million hours, and an annualized failure
rate (AFR) of 0.35%, indicating high performance and long-term durability.
TDSC will continue to expand its lineup of high capacity nearline HDDs that improve cost
efficiency for customers (lower TCO) while contributing to advances in digital
infrastructure.
Power semiconductors
Electron Beam Mask Writer
Microcontroller TXZ+™ Family
*TXZ+™ is a trademark of Toshiba Electronic
Devices & Storage Corporation.
Thermal Printheads
HDDs
Fine Ceramics products
Completed power semiconductor manufacturing facility
High-Capacity 3.5-inch Nearline HDD MG11 series / MA11
series
“SmartMCD™” series of microcontroller-embedded gate drivers
Main Business Areas
Discrete Semiconductors
(Power Semiconductors, Small Signal
Semiconductors, Photocouplers, etc.)
System LSI
(Analog ICs, Microcontrollers,
Automotive ICs, etc.)
Storage Products
(Large-capacity HDD for data centers,
etc.)
Semiconductor Manufacturing
Equipment
(Electron Beam Mask Writer, etc.)
Devices
(Thermal Printheads, Magnetron, etc.)
Materials
(Fine ceramics products, etc.)
*
FC-MAMR™ is a trademark of
Toshiba Electronic Devices &
Storage Corporation
Sustainability
Businesses
Data Section
Business Results
Strategies
Businesses
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Toshiba Integrated Report 2024
Digital Solutions
Toshiba Digital Solutions Corporation Enhances Disaster Prevention with
High-Accuracy Rainfall and Hailfall Prediction Services
Toshiba Digital Solutions Corporation’s (TDSL) recent offering, “Weather Data Service,” brings proprietary
technology to highly accurate, real-time analysis of weather radar data. The first phase of this was realized in
May 2023, when TDSL introduced a “Rainfall Prediction Service” that accurately forecast localized heavy rain,
“guerilla rainstorms” as it is known in Japan. February 2024 saw the launch of a “Hailfall Prediction Service,”
which predicts hailstorms by classifying particles in rain clouds.
Hailfall Prediction Service is fast gaining traction. It was adopted
by Mitsui Sumitomo Insurance Co., Ltd. in June 2024 and Tokio
Marine & Nichido Fire Insurance Co., Ltd. in October 2024, and
provides their policyholders with hail alert services. It detects hail
formation in the atmosphere, predicts when and where it will fall,
and issues advance alerts that give policyholders time to act and
to minimize hail damage. TDSL is now promoting global
expansion of Weather Data Service, including a strategic
collaboration with MyDIGITAL, a government agency under
Malaysia’s Ministry of Digital Communications.
TDSL’s ability to precisely forecast what is happening, and what
will happen in the sky, is contributing to disaster prevention and
mitigation. By bringing the service to diverse industries, the
company aims to foster safer, more resilient communities and to
enhance quality of life.
Advancing Quantum-Related Businesses with QKD and SQBM+
TDSL is driving the development of quantum-related businesses, including Quantum Key Distribution (QKD)
and “SQBM+™,” the quantum-inspired optimization solution, leveraging cutting-edge quantum know-how to
enhance cybersecurity and optimization capabilities in diverse sectors. QKD, an advanced cryptographic
technology that securely distributes encryption keys, offers a theoretically eavesdropping-proof solution to
protect highly confidential data, and plays a vital role in defending against cyber threats and ensuring secure
data communications.
In the UK, Toshiba Europe Limited collaborated with BT Group in the launch of a commercial QKD metro network
trial in London in April 2022. Major global organizations such as EY, HSBC, and Equinix have joined the trial to
evaluate how quantum-secure communications can strengthen cybersecurity across diverse sectors. Toshiba
further reinforced its leadership in quantum communication technologies with the September 2023 establishment
of the Quantum Technology Centre in Cambridge. The Center promotes commercialization of quantum
technology, and supports the development of quantum-secure networks and the manufacture of QKD equipment.
Advancing Smart Manufacturing and Digital Transformation in the
Manufacturing Industry
TDSL is driving the digital transformation of manufacturing by extending the smart factory concept beyond
individual factories to the entire value chain while addressing challenges such as carbon neutrality and energy
management. TDSL’s Digital Manufacturing Solutions provide comprehensive manufacturing solutions that
integrate industrial computers and operational technologies from Toshiba Infrastructure Systems Corporation,
plus advanced production technologies developed by Toshiba’s Corporate Manufacturing Engineering Center.
For instance, TDSL responded to the growing demand for semiconductors with the launch of the Process
Improvement Assist Package for SMT Lines in October 2024. This solution enhances SMT line production
processes, contributing to the optimization and digitization of manufacturing operations. TDSL continues to
support digital transformation and improved manufacturing operations.
To take another example, resilient supply chains able to overcome unexpected disasters are a critical need.
Manufacturing companies must now strengthen not only their direct suppliers (Tier 1) but also Tier 2 and
beyond. TDSL addressed this in November 2023 by introducing a Business Continuity Planning (BCP) service
within the supply chain platform for manufacturers. The service enhances supply chain visibility and
preemptive risk management, allowing businesses to efficiently assess the impact of disruptions on their
suppliers.
Further expanding its solutions, TDSL
launched a platform with a cross-supply
chain CSR and ESG assessment service in
June 2024. This initiative enhances inter-
company communications and improves
end-to-end transparency in the supply
chain, supporting businesses in fulfilling
their social responsibilities and promoting
responsible manufacturing practices.
Through these initiatives, TDSL is driving
innovation in manufacturing, supporting
sustainable supply chain management,
and contributing to a more resilient and
responsible industrial ecosystem.
Digital Manufacturing Solutions
Human Resource Management Solutions
Quantum Key Distribution
IoT Platform
Demo Screen of Hail Forecasting Service
*The displayed screen is for illustrative purposes only.
At the opening ceremony of the Quantum Technology Centre
Concept diagram of the supply chain platform for the manufacturing industry
In Japan, Toshiba is collaborating with SoftBank to develop quantum-secure networks for the Beyond 5G and
6G eras. The successful demonstration of QKD-based inter-site VPN communications in September 2023 was
followed by a successful proof-of-concept in March 2024 that integrated QKD with both free-space optical and
fiber-optic communications. These advances highlight the potential for rapid QKD
deployment in regions where fiber-optic installation is challenging, and pave the
way for broader adoption of quantum-secure networks in Japan.
“SQBM+” is a quantum-inspired optimization solution built on a proprietary
algorithm developed through Toshiba’s quantum computing research. It realizes
ultra-fast optimization by efficiently identifying optimal solutions from massive
datasets, allowing it to take on challenges in financial trading, plotting the
movement of robots, transportation and energy grid optimization, and molecular
design for drug discovery.
SQBM+ Version 2, launched in November 2023, has expanded capabilities and can
handle up to 10 million variables in large-scale optimization problems. It is available
through the AWS Marketplace and Azure Marketplace, giving access to a wide range
of users. Toshiba is now strengthening partnerships with global quantum
technology startups, fostering innovation and supporting businesses in developing
advanced applications utilizing SQBM+.
Main Business Areas
Solutions for Industries
(Manufacturing, retail & logistics,
finance, media, national and local
government, social infrastructure, etc.)
Solutions for Businesses
(Smart manufacturing, supply chain
management, human resource
management, customer service
management, etc.)
Quantum-Related Technologies
(Quantum key distribution, quantum-
inspired optimization solutions)
IoT/AI
Security/Blockchain
Managed Services
Company
Company
Company
Company
Company
Company
Company
Company
Company
Company
Company
Company
Company
Company
Sustainability
Businesses
Data Section
Business Results
Strategies
Businesses
Toshiba Integrated Report 2024
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Toshiba Integrated Report 2024
The Basic Commitment of Toshiba Group is “Committed to People, Committed to the Future.” This commitment is the foundation of Our
Purpose: an unwavering drive to make and do things that lead to a better world. Toshiba Group aims to solve issues facing our society
and to contribute to its development through our business.
Toshiba Group considers the long-term impact of its corporate activities on society and takes action to address the material issues we
identify. In accordance with the Standards of Conduct for Toshiba Group, we place the highest priority on life, safety, and compliance
(observance of laws, regulations, social norms, and ethics), and drive sustainability management in cooperation with our stakeholders
in order to enhance our corporate value. We comply with international standards and seek opinions from the experts thus enabling us
to make responsible decisions regarding our commitment to society.
1. Toshiba Group contributes to the sustainable development of society by developing and producing products and services which
enrich lives. It does so by bringing together its history of creativity, technological strength and advanced quality that it has long
cultivated.
2. Toshiba Group proactively works to reduce environmental impacts throughout its entire value chain with the goal of positively
addressing various global environmental issues.
3. Toshiba Group supports internationally recognized principles on human rights, and respects the human rights of every stakeholder
who contributes to its activities, including customers, shareholders and employees.
4. Toshiba Group works with suppliers to promote sustainable procurement activities which take into account such matters as human
rights and the environment.
5. Toshiba Group’s sustainability management approach incorporates a long-term perspective to protect and maintain its sustainable
growth.
6. Toshiba Group reports on its sustainability objectives, activities and results to promote a constructive dialogue and trusted relationships
with stakeholders.
October 21, 2021
Committed to People,
Committed to the Future.
Toshiba Group Sustainability Policy
Toshiba Group has long positioned “Committed to People, Committed to the Future.” as the main text of our Basic Commitment, the
expression of our unwavering determination to contribute to society’s development through our business activities. Grounded in this
commitment, as a member of a society that faces issues that include energy shortages, resource depletion, and climate change, we have
taken initiatives to help solve issues by considering the impact of our corporate activities on society over the long-term, rather than simply
pursuing short-term profits. To further advance the initiatives and strengthen our activities to contribute to social sustainability, the Board
of Directors established the Toshiba Group Sustainability Policy. Toshiba Group promotes sustainability management to enhance its
corporate value.
In order to develop sustainably as a company, Toshiba Group strives to strengthen environmental (E), social (S), and corporate governance
(G) initiatives and implement sustainability management as steps to build ethical and transparent management foundations. At the same
time, we will make efforts to create and provide rich value in collaboration with our various stakeholders, such as our customers,
shareholders and investors, suppliers, employees, and local communities. We conduct all corporate activities fairly and honestly, guided
by the Standards of Conduct for Toshiba Group.
Sustainability Management
Others
Next-Generation Lithium-Ion Batteries SCiB™ Nb Power Ultra-Fast Charging EV
Buses in Japan and Brazil
Demonstration Test of Battery Subscription Service for Electric Motorcycle
Taxis Begins in Bangkok
Toshiba Corporation is advancing demonstration projects for ultra-fast charging EV buses utilizing its next-
generation lithium-ion secondary batteries. In Brazil, Toshiba has begun real-world
testing of a prototype EV bus equipped with the new SCiB™ Nb. This lithium-ion
battery uses niobium titanium oxide (NTO) in the anode, enabling ultra-fast charge
time of around 10 minutes. NTO offers twice the theoretical volume density of
conventional
graphite-based
anodes,
significantly
enhancing
charging
performance and durability. The SCiB™ Nb battery is a product of joint technological
development by Toshiba, Sojitz Corporation, and CBMM, with commercialization
targeted for Spring 2025.
In Japan, Toshiba has partnered with Kawasaki Tsurumi Rinko Bus Co., Ltd. and
Drive Electro Technology Co., Ltd., to jointly demonstrate the feasibility of
commercial EV bus operations using a pantograph charging system. The project
includes converting an existing diesel bus into an EV bus and testing its
performance in urban areas where charging space and facilities are limited.
Toshiba’s rechargeable battery, SCiB™ is renowned for its minimal degradation
even after repeated charge and discharge cycles, as well as its ultra-rapid
charging capability. When paired with a high-capacity pantograph charger
capable of delivering large amounts of power in a short time, the system aims to
improve operational efficiency and reduce the burden of charging procedures
for buses. Through these initiatives, Toshiba seeks to leverage its advanced
technologies to contribute to decarbonization and the realization of sustainable
mobility society.
Toshiba Corporation, in collaboration with battery-tech startup Naturenix Inc., began a demonstration test of
a battery subscription service for electric motorcycle taxi drivers in Bangkok, Thailand, on September 30,
2024. This test utilizes Toshiba’s SCiB™, which is known for its long life and durability in high-temperature
environments, to ensure stable operation and reduce operating costs.
Toshiba and Naturenix are exploring the launch of a
subscription-based battery business model through
local partners in Thailand. This subscription model
aims to lower the initial cost of battery adoption
while establishing a new business framework that
ensures sustainable revenue. Through this initiative,
the companies aim to reduce environmental impact
and contribute to a sustainable mobility society in
emerging markets.
Toshiba Group Sustainability Policy
SCiB™ Cells
SCiB™ Module
SCiB™ Industrial Pack Series
Images of EV buses with Toshiba’s battery SCiB™ powered by a
pantograph charging system
Business scheme of the battery subscription model
Main Business Areas
Development, manufacturing,
and sale of battery cells, modules,
and packs
Sustainability
Businesses
Data Section
Business Results
Strategies
Businesses
Sustainability
Toshiba Integrated Report 2024
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Toshiba Integrated Report 2024
Board of Directors
Supervision/Direction
Report
Sustainability Promotion
Committee
Toshiba Group Environmental
Management Committee
Non-financial Information
Disclosure Committee
Held twice a year
Chairperson: Executive in charge of Sustainability
Members: Sustainability Leaders
(Business divisions of Toshiba Corporation
and key Group companies,*1 listed
subsidiaries and some Group companies,*2
corporate staff divisions)
Held twice a year
Chairperson: Executive in charge of Environment
Members: Environmental Management Leaders
(Business divisions and productions sites of
Toshiba Corporation and key Group companies,*1
listed subsidiaries and some Group companies,*2
corporate staff divisions)
Held once a year
Chairperson: President and CEO
Members: Corporate officer in charge of sustainability-
related matters
Staff division managers with responsibilities
Held twice a year
Chairperson: President and CEO
Members: Executive in charge of sustainability-related matters,
the business managers of Toshiba Corporation and
key Group companies,*1 the presidents of listed
subsidiaries and some Group companies,*2 and the
corporate staff division managers with responsibilities
related to sustainability.
*1 Key Group companies: Toshiba Energy Systems & Solutions Corporation, Toshiba Infrastructure Systems & Solutions Corporation, Toshiba Electronic Devices & Storage Corporation,
and Toshiba Digital Solutions Corporation
*2 Listed subsidiaries and some Group companies: Toshiba Tec Corporation, Toshiba Elevator and Building Systems Corporation, Toshiba Lighting & Technology Corporation,
Toshiba Plant Systems & Services Corporation, and NuFlare Technology, Inc.
As of April 1, 2024
Toshiba Group Companies
Report
Implementation of
sustainability measures
Sustainability Strategy
Committee
Sustainability Management Structure
In 2003 Toshiba established an in-house organization to promote CSR, and has put in place a promotion system that covers the Group. As
companies are urged to make more effort to help solve global issues represented in the Sustainable Development Goals (SDGs) and help
create a sustainable society, we established the Sustainability Management Division in April 2021. Incorporating a sustainability perspective
into management, we promote ESG and SDGs activities through all of our corporate activities.
To take this initiative a step further and strengthen integrated management with the management policy and strategy, the functions of the
Sustainability Management Division were transferred to the Strategic Planning Division in April 2024. We convene the Sustainability
Strategy Committee twice a year to discuss and decide on policies and strategies related to the sustainability of Toshiba Group and to set
the direction of key issues. The Committee is chaired by the President and CEO, and its members include the executives in charge of
sustainability-related matters, the business managers of Toshiba Corporation and key Group companies,*¹ the presidents of listed
subsidiaries and some Group companies,*² and the corporate staff division managers with responsibilities related to sustainability.
Positioned under the Sustainability Strategy Committee is the Sustainability Promotion Committee. This committee considers specific
measures and prepares action plans for the matters decided by the Sustainability Strategy Committee. Additionally, the Toshiba Group
Environmental Management Committee (renamed from the Corporate Environmental Management Committee in April 2024) deliberates
and decides on important environmental measures and policies, such as Toshiba Group’s Basic Policy for the Environment. The Non-
financial Information Disclosure Committee approves the disclosure of ESG information included in our Integrated Report and Sustainability
Report. The Sustainability Promotion Committee is chaired by the executive in charge of sustainability, while the Toshiba Group
Environmental Management Committee is chaired by the executive in charge of the environment. Both Committees meet twice a year in
principle.
The executive in charge of sustainability and the environment regularly reports the status of measures being taken and receives supervision
and advice at the Board of Directors meetings.
The Sustainability Promotion Committee monitors the progress of sustainability-related measures such as KPIs based on material issues.
For more information: Material Issues and KPIs
In order to raise sustainability awareness of employees in Toshiba Group, the President and CEO reaffirms the philosophy of Basic
Commitment of the Toshiba Group at every opportunity, such as the start of each half-year term, at company ceremonies, and at start-of-
year addresses. The importance of implementing sustainability management is also communicated. We also conduct sustainability
management-related training for newly hired employees and newly appointed managers as well as annual e-learning for all employees in
line with the Standards of Conduct for Toshiba Group in areas such as the environment, information security, respect for human rights,
engineering ethics, compliance with antitrust laws and prohibition of bribery.
Toshiba Group’s Sustainability Month
Since FY2006, Toshiba Group has designated December as Sustainability Month (renamed from CSR Month in FY2020). During this month,
we hold seminars on topics such as human rights, and concentrate on social contribution activities at each of the Group companies and
business sites.
In FY2023, the President and CEO stated, “For Toshiba Group, which is contributing to the realization of carbon neutrality and a circular
economy through digitalization, the realization of a sustainable society is the most important management strategy. Each and every
person working at Toshiba Group should think about what we can do with regard to “Committed to people, Committed to the Future.”
Speak freely, and take concrete action, which will lead to technological diversity and provide a path to solving global issues.” During this
period, we broadcast a lecture by Director Hashimoto on the corporate activities and individual actions that should be taken to achieve the
ideal form of sustainability management. We also utilized our internal website to distribute the content aimed at deepening knowledge of
ESG and the Toshiba Group’s sustainability management as well as seminars on human rights, and also to share examples of social
contribution activities and health and safety activities that were commended for their excellence.
Additionally, in FY2023, an annually-held Toshiba Group Volunteer Days event took place at the beginning of December, which is around
International Volunteer Day on December 5, to provide volunteering opportunities for all Toshiba Group employees. Moving forward, we
will continue to work to raise each employee’s awareness of sustainability.
For more information: Social Contribution Activities (Toshiba Group Volunteer Days)
The main details of the initiatives undertaken at each committee meeting in FY2023 are as follows:
Sustainability Strategy Committee
FY2022 summary, FY2023 key themes, KPIs linked to material issues, human rights due diligence, supplier human rights risk survey,
environmental management, ESG evaluation agency evaluation results, response to the UK and Australian Modern Slavery Acts, Toshiba
Group DEIB policy
Sustainability Management Structure
Monitoring
Increasing Employee Awareness of Sustainability
Sustainability Promotion Committee
FY2022 summary, FY2023 plan and key themes, KPIs linked to material issues, ESG evaluation agency evaluation results, human rights due
diligence, sustainability surveys from customers, key environmental measures
Corporate Environmental Management Committee (former name)
FY2022 activity results and FY2023 activity plans, formulation of the Eighth Environmental Action Plan promotion items and KPIs, reports
related to environmental risk compliance
Non-financial Information Disclosure Committee
Confirmation and approval of information presented in the sustainability website and Integrated Report
Details of the Sustainability Strategy Committee meetings are reported to the Board of Directors to receive supervision and advice.
*1 Key Group companies: Toshiba Energy Systems & Solutions Corporation, Toshiba Infrastructure Systems & Solutions Corporation, Toshiba Electronic Devices & Storage Corporation, and Toshiba Digital
Solutions Corporation
*2 Listed subsidiaries and some Group companies: Toshiba Tec Corporation, Toshiba Elevator and Building Systems Corporation, Toshiba Lighting & Technology Corporation, Toshiba Plant Systems &
Services Corporation, and NuFlare Technology, Inc.
Sustainability
Businesses
Data Section
Business Results
Strategies
Sustainability
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Toshiba Integrated Report 2024
The Essence of Toshiba
Standards of Conduct for Toshiba Group
Long-term
Short-term
Sustainability Policy
Management Policies
Business Strategy
Material Issues
Solving various social issues through our business
Increase corporate value and sustainable growth
Business Activities and Implementation of Sustainability Measures
Vision for 2030
Material Issues
For the irreplaceable global environment
in which we live
Promote corporate activities with full consideration
for the global environment throughout our value
chain, from design, procurement, manufacturing,
logistics and sales, through to disposal.
Respond to climate change
Respond to the circular economy
Consider ecosystems
For respect of human rights, to nurture
people and technology, and to give back
to society
Encourage every Group employee to feel pride and
fulfillment in their work, and to harness creativity
and technology in collaborating with business
partners to realize rich value.
Secure, retain and train human resources
Ensure employee health and safety
Promote respect for human rights
Promote sustainable procurement
Strengthen R&D to stimulate innovation
For further strengthening thorough
governance
Practice transparent corporate governance and
optimal internal controls and execute management
with integrity, trusted by stakeholders.
Strengthen governance
Strengthen cyber resilience
Material Issues and KPIs
Guided by the Essence of Toshiba, Toshiba Group works on material issues that could impact business activities from a medium and long-
term perspective in accordance with the Sustainability Policy and promotes sustainability management that contributes to the
development of society.
We have tackled the material issues identified in 2013 by regularly confirming their status. However, response to climate change is now
required on a global scale, and social issues are changing according to various perspectives as seen in the SDGs adopted by the United
Nations. Toshiba Group also reviewed its businesses. Accordingly, we re-identified new material issues in FY2021. We position the material
issues under the Essence of Toshiba and the Sustainability Policy, and will work on initiatives Group-wide.
We believe that in order for people and businesses to survive, it is vital that the earth, in which we live, is safe, stable, and a place that
humans can thrive. Guided by the Essence of Toshiba, our business activities contribute to finding solutions to a range of social issues and
supporting the sustainable growth of society, in consideration of not only the present global environment but also the planet in the future.
We recognize the importance of maintaining a management foundations with integrity and transparency to support our business activities,
and, to that end, have set out the following as material issues to be addressed by Toshiba Group so as to increase our corporate value.
Toshiba Group’s Material Issues
The Sustainability Strategy Committee decides on KPIs in line with material issues and we work on them. For FY2024, we revised some of
the KPIs and introduced qualitative targets.
The Sustainability Promotion Committee monitors efforts related to these items to strengthen future initiatives.
KPIs
For the Irreplaceable Global Environment in Which We Live
Response to Climate Change
Environment: For the irreplaceable global environment in which we live
KPIs
FY2022
FY2023
FY2024
Achievements
Targets
Achievements
Targets
Total GHG emissions from business and production sites*¹
0.77 million t-CO2
0.98 million t-CO2
0.54 million t-CO2
―
Reduction rate of GHG emissions (Scopes 1*²+2*³)
(compared to FY2019)
―
―
―
32% reduction
Reduction rate of GHG emissions (Scope 3*⁴)
(compared to FY2019)
―
―
―
59% reduction
Reduction rate of GHG emissions from products and services
associated with power supply (compared to FY2019)*⁵
70.4% reduction
13.6% reduction
62.5% reduction
―
Avoided GHG emissions through the use of products and services
associated with renewable energy supply
(cumulative total from FY2021)*⁶
50.33 million t-CO2
43.00 million t-CO2
60.74 million t-CO2
―
Avoided GHG emissions through the use of products and services
associated with energy consumption
(cumulative total from FY2021)*⁷
37.79 million t-CO2
57.00 million t-CO2
49.47 million t-CO2
―
Avoided GHG emissions through the use of products and services
associated with energy consumption
(cumulative total from FY2019)
―
―
―
108.00 million t-CO2
*1 CO2 emissions from electricity are calculated using emission coefficients provided by power companies.
*2 GHG emissions through fuel use and industrial process at Toshiba Group (direct emissions)
*3 GHG emissions through use of electricity, heat, etc., purchased by Toshiba Group (indirect emissions)
*4 GHG emissions generated by Toshiba Group’s value chain (raw materials procurement, distribution/logistics, sales, disposal, etc.) outside Scope 1 and 2 (indirect emissions)
*5 The reduction rate of GHG emissions from products and services associated with power supply (such as thermal power generation; compared to FY2019). The calculation method is as follows:
GHG emissions from power generation for FY2021 onward due to newly installed or upgraded facilities are calculated to derive the reduction rate versus FY2019 emissions. The arithmetic mean for the
results during the period of the Seventh Environmental Action Plan is used.
*6 Avoided GHG emissions by products and services associated with power supply (such as water, geothermal, and solar power generation). The calculation method is as follows:
Obtain the difference between average GHG emissions per unit of all thermal power generation (coal, gas, and oil) and GHG emissions per unit of renewable energy generation and multiply it by output,
operation rate, facility utilization rate, expected service life, etc. Aggregate the cumulative total volume of avoided GHG emissions due to power generation in FY2021 onward attributable to newly installed
or upgraded facilities.
*7 Avoided GHG emissions by products and services associated with power consumption (such as social infrastructure products). The calculation method is as follows:
Obtain the difference (for one year) between the total GHG emissions of assumed substitute products and the total GHG emissions of shipped products and multiply it by the expected service life.
See below for details of achievements and initiatives.
Response to Climate Change
By addressing these material issues, we will push forward with the strengthening of ESG in order to achieve our vision for 2030. In the area
of the environment (E), we are working to achieve carbon neutrality and a circular economy while promoting activities that give
consideration to ecosystems, such as responding to water risks and conserving biodiversity. In the area of society (S), we are working to
realize a culture of respect for human rights as a prerequisite for nurturing people and technologies that create abundant value and give
back to society. In the area of governance (G), we are working to strengthen governance and improve cyber resilience in order to achieve
honest management.
Sustainability
Businesses
Data Section
Business Results
Strategies
Sustainability
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Toshiba Integrated Report 2024
Response to the Circular Economy
Consider Ecosystems
In recent years, climate change, the depletion of energy and resources, and various other environmental issues have intensified, to the
point where they threaten the safe, secure lives of future generations. With regard to climate change in particular, given the impacts of
floods, droughts, and enormous typhoons in many parts of the world, the 2015 adoption of the Paris Agreement*¹ has accelerated the
movement toward carbon neutrality in each country. In the face of these circumstances, companies must recognize the importance of
climate change from a long-term perspective and proactively respond in order to achieve carbon neutrality.
In addition, over the last several years, countries worldwide have been trying to address issues such as the transition to a circular economy,
water resources, biodiversity conservation, and marine plastics and society’s interest in such issues are on the rise. Meanwhile, the
dissemination of the SDGs, the expansion of ESG investment, and other movements involving corporate management aimed at
sustainability overall are gaining momentum.
Amid these changing circumstances, we consider it important to continue providing enriched value to customers while responding to
global trends from a long-term perspective in order to contribute to the realization of a sustainable society and to aim to grow sustainably
as a company. As such, Toshiba Group formulated the Environmental Future Vision 2050*² as a new long-term vision in November 2020 to
address carbon neutrality, the circular economy, and other issues from a global perspective. With the goal of “contributing to the realization
of a sustainable society through environmental management which aims to create enriched value and to ensure harmony with the earth,”
the Environmental Future Vision 2050 aims to realize a sustainable society—in other words, a decarbonized society, a resource circulating
Environmental Future Vision 2050
*1 The Paris Agreement is an international framework adopted at the 21st session of the Conference of the Parties (COP21) that seeks to reduce the volume of greenhouse gas (GHG) emissions. It aims to
restrain the increase in the global average temperatures to less than 2°C from the pre-industrial level and to pursue efforts to limit the temperature increase even further to 1.5°C. To this end, the
Agreement’s target is to lower the volume of GHG emissions to substantially zero by the latter half of this century.
*2 We partially revised our vision in November 2021 and set a target to reduce GHG emissions across the entire value chain by 70% compared to FY2019 by 2030.
*3 Backcasting is a method that defines a desired goal and works back through the series of actions necessary for its achievement.
KPIs
FY2022
FY2023
FY2024
Achievements
Targets
Achievements
Targets
Volume of waste from business and production sites*¹
0.30 million t
0.25 million t
0.23 million t
―
Reduction of total waste volume from business and production
sites (per unit improvement) *²
―
―
―
2% reduction
compared to FY2022
Amount of plastic resources recycled in products and services
(cumulative total from FY2021)*³
1,552 t
1,800 t
2,353 t
―
Amount of resources saved in products and services
(cumulative total from FY2021)*⁴
0.2 million t
0.4 million t
0.29 million t
―
KPIs
FY2022
FY2023
FY2024
Achievements
Targets
Achievements
Targets
Reduction of the total amount of chemical substances emitted
from business and production sites (per unit improvement)*¹
Compared to FY2021
9% improvement
Compared to FY2022
1% improvement
Compared to FY2022
1.1% improvement
―
Reduction of the amount of water received at business and
production sites (per unit improvement)*¹
Compared to FY2021
Deterioration by 4%
Compared to FY2022
1% improvement
Compared to FY2022
Deterioration by 16%
Compared to FY2022
2% improvement
Expanded contributions to the “7 GBF Targets” of focus in
biodiversity conservation activities*²
―
―
―
Set by location
KPIs
FY2022
FY2023
FY2024
Achievements
Targets
Achievements
Targets
Percentage of female employees in executive and in managerial
positions (Percentage of female exempt employees)*¹
5.8%
6.5%
6.2%
7.2%
Set a target of 8% for FY2025
Engagement score*²
57 points
57 points
57 points
58 points
Number of AI experts*³
2,100
2,200
2,300
―
Percentage of employees using AI*⁴
―
―
―
30%
*1 Obtained by deducting the volume of objects with value from the total volume of waste generated (excluding sites engaged in waste treatment and power generation).
*2 Basic-unit goals: Activities are assessed using indicators such as nominal output, the number of products manufactured, the number of persons, and the total floor area.
*3 Cumulative total volume of recycled plastics and bioplastics used over the three-year period.
*4 Cumulative total volume of eight resources conserved due to lighter product weights and longer product service lives over the three-year period. The calculation method is as follows:
[Total volume of input materials for assumed substitute products – Total volume of input materials for shipped products]
*1 Basic-unit goals: Activities are assessed using indicators such as nominal output, the number of products manufactured, the number of persons, and the total floor area.
*2 GBF (Global Biodiversity Framework) refers to the “Kunming-Montreal Global Biodiversity Framework” formulated in the 15th Conference of the Parties to the Convention on Biological Diversity (COP15)
held in December 2022.
This is a set of global goals for biodiversity conservation that consists of a 2050 vision, a 2030 mission, 2050 goals, and 2030 targets (consisting of 23 activity targets and other elements).
The seven targets are seven targets among the “2030 targets” for achieving “Nature Positive”–specifically, “Target 3: 30 by 30,” “Target 4: Species and gene conservation,” “Target 6: Invasive species control,”
“Target 7: Pollution prevention/reduction,” “Target 8: Climate change measures,” “Target 11: Utilization of nature’s regulatory functions,” and “Target 12: Securing green and water-friendly spaces”–and
Toshiba Group aims to contribute to achieving these at its approximately 60 sites in Japan and overseas.
*1 For full-time employees at Toshiba, Toshiba Energy Systems & Solutions Corporation, Toshiba Infrastructure Systems & Solutions Corporation, Toshiba Electronic Devices & Storage Corporation, and
Toshiba Digital Solutions Corporation
*2 All Group companies participating in the survey are included. (Reference: In FY2022, 87 Toshiba Group companies in Japan and overseas, and in FY2023, 95 Toshiba Group companies in Japan and overseas
participated.)
*3 At Toshiba, Toshiba Energy Systems & Solutions Corporation, Toshiba Infrastructure Systems & Solutions Corporation, Toshiba Electronic Devices & Storage Corporation, Toshiba Digital Solutions
Corporation, Toshiba Tec Corporation, Toshiba Elevator and Building Systems Corporation, Toshiba Lighting & Technology Corporation
*4 Employees throughout the entire Toshiba Group in Japan who use PCs in their daily work.
See below for details of achievements and initiatives.
Response to the Circular Economy
See below for details of achievements and initiatives.
Consideration of Ecosystems
society, and a society in harmony with nature. Under the same concept of backcasting,*³ which has been incorporated at the formulation
of the previous Vision from 2007, we will promote the implementation of initiatives in three areas, response to climate change, response
to the circular economy and consideration of ecosystems, to realize the ideal situation in 2050.
Secure, Retain and Train Human Resources
For Respect of Human Rights, to Nurture People and Technology,
and Giving Back to Society
Social: For respecting human rights, to nurture people and technology, and to give back to society
Sustainability
Businesses
Data Section
Business Results
Strategies
Sustainability
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Ensure Employee Health and Safety
Respect for Human Rights
Promote Sustainable Procurement
Strengthen R&D to Stimulate Innovation
For Further Strengthening Thorough Governance
Strengthen Governance
See below for details of achievements and initiatives.
Fair Evaluation and Talent Development
Promotion of DEIB (Diversity, Equity, Inclusion, Belonging)
See below for details of achievements and initiatives.
Ensure Employee Health and Safety
See below for details of achievements and initiatives.
Promote Sustainable Procurement
Fair Trading (Risk Management and Compliance)
Procurement
See below for details of achievements and initiatives.
Strengthen R&D to Stimulate Innovation
Technologies
See below for details of achievements and initiatives.
Respect for Human Rights
KPIs
FY2022
FY2023
FY2024
Achievements
Targets
Achievements
Targets
Fatalities due to work-related accidents
1
Zero
(no accidents)
3
Zero
(no accidents)
Severity rate of work-related accidents*¹
0.005
0.010
or less
0.103
0.010
or less
Ratio of employees with metabolic syndrome*¹
34.6%
Same as the previous
fiscal year or less
34.6%
Same as the previous
fiscal year or less
28.6% or less*³ by the end of FY2025
*²
*²
KPIs
FY2022
FY2023
FY2024
Achievements
Targets
Achievements
Targets
Rate of human rights-related seminars and workshops for
sustainability leaders held
100%
100%
100%
―
Participation rate in human rights education programs
(e-learning) under the Standards of Conduct for Toshiba Group
99%
100%
99.6%
100%
Human rights due diligence initiatives
(a) Implementation rate of human rights impact assessments in
our own company’s businesses
100%
―
―
―
Human rights due diligence initiatives
(b) Implementation rate of the survey on the actual conditions
and the measures for correction, prevention, and mitigation
―
100%
N/A
―
Human rights due diligence initiatives
Percentage of companies monitoring the actual status using the
Risk Assessment Program (RAP) for Group companies*⁴
―
―
―
100%
*¹
*¹+*²
*¹+*²
*¹
*²
*³
KPIs
FY2022
FY2023
FY2024
Achievements
Targets
Achievements
Targets
Obtaining consent for the Toshiba Group Procurement Policy
from new suppliers
100%
100%
100%
100%
Number of companies where we conducted our Sustainable
Procurement Survey*¹
12,622
13,000
13,014
13,000
Implementation rate of sustainable procurement training for
Group procurement employees*²
41%
100%
100%
100%
KPIs
FY2022
FY2023
FY2024
Achievements
Targets
Achievements
Targets
Percentage of outside directors on Toshiba’s Nomination
Committee, Audit Committee, and Compensation Committee*
100%
100%
100%
―
Establishment and strengthening of governance systems under
the new management structure
―
―
―
(Qualitative)
Compliance score in the employee engagement survey
(67 points)
(67 points)
―
68 points
*1 At Toshiba and Toshiba Group in Japan
*2 The target value is the average value (value published by Ministry of Health, Labour and Welfare) for the electrical appliance industry (companies of 1,000 employees or more) for 2020
*3 The 2019 national average (value published by Ministry of Health, Labour and Welfare) was decided as the target value at the OHS Management Conference held in the first half of FY2020
*1 Sustainable Procurement Survey: a survey to evaluate suppliers’ CSR initiatives. Conducted 100% at key suppliers.
*2 Excluding Toshiba Tec Corporation
*Toshiba Corporation. Until December 2023 (The committees were abolished due to a change in the system.)
*1 At Toshiba, Toshiba Energy Systems & Solutions Corporation, Toshiba Infrastructure Systems & Solutions Corporation, Toshiba Electronic Devices & Storage Corporation, Toshiba Digital Solutions
Corporation, Toshiba Tec Corporation, Toshiba Elevator and Building Systems Corporation, Toshiba Lighting & Technology Corporation, and Toshiba Plant Systems & Services Corporation
*2 Group companies identified as high risk in human rights impact assessments
*3 The implementation rate is difficult to quantify, so it is N/A (for the actual initiatives, see the “Respect for Human Rights” page).
*4 Companies covered by RAP (80% of Toshiba Group companies)
Governance: For further strengthening thorough governance
Sustainability
Businesses
Data Section
Business Results
Strategies
Sustainability
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Response to Climate Change
(Information Disclosure Based on the TCFD
Recommendations)
Toshiba Group has identified “Response to climate change” as one of its materiality issues and has positioned achieving carbon neutrality
as a key management issue. As part of our Environmental Future Vision 2050, we are working to achieve carbon neutrality throughout our
value chain by FY2050 by promoting initiatives at our business and production sites as well as initiatives for our products and services.
To reduce Scope 1*¹ and 2*² emissions, we focus on reducing the energy used in production processes, promoting the introduction of
energy-efficient processes and equipment, expanding the utilization of renewable energy, and so on.
For Scope 3,*³ we focus on reducing emissions in categories 1*⁴ and 11,*⁵ which have particularly high emissions, and we work to encourage
suppliers to act by conducting surveys and evaluating their initiatives as well as to develop products and technologies that contribute to
achieving carbon neutrality.
In addition to “mitigation measures” to reduce greenhouse gas (GHG) emissions, as “adaptation measures” to prepare for the impacts of
climate change, we are also promoting the development of related products and services, such as business continuity plan (BCP) measures
for production and business sites as well as disaster prevention solutions.
Toshiba Group has established an environmental management structure and is promoting group-wide initiatives to respond to climate
change. Items of the Environmental Action Plan and priority measures related to climate change are formulated and progress is checked
at Toshiba Group Environmental Management Committee, and the content is reported to Sustainability Strategy Committee and the Board
of Directors.
Governance
Response to Climate Change at Our Sites
Response to Climate Change in Products and Services
Material Issues and KPIs
Environmental Future Vision 2050
Greenhouse Gas Emissions Across the Value Chain
Toshiba Group Green Procurement Guidelines
Environmental Management Structure
Review by external experts
Deliberations and identification by the Sustainability Strategy Committee
Report to the Board of Directors
Extract issues with reference to the SDGs, the Global Risks Report published by the World Economic Fo
rum, guidelines including the SASB (Sustainability Accounting Standards Board) Standards, and evalua
tion items by ESG rating agencies
Extraction of issues
Re-identification of material issues
Re-identify material issues based on how closely they are linked to Toshiba Group’s business focus areas
and the status of initiatives
Strengthen Cyber Resilience
KPIs
FY2022
FY2023
FY2024
Achievements
Targets
Achievements
Targets
Self-assessment of cyber security management maturity*
3.4
Higher than
previous fiscal year
(upon reaching 4,
remain at 4 or higher)
3.58
Higher than
previous fiscal year
(upon reaching 4,
remain at 4 or higher)
*At key Group companies, Toshiba Elevator and Building Systems Corporation, Toshiba Lighting & Technology Corporation, Toshiba Plant Systems & Services Corporation, and Toshiba Development &
Engineering Corporation
*1 GHG emissions through fuel use and industrial process at Toshiba Group (direct emissions)
*2 GHG emissions through use of electricity, heat, etc., purchased by Toshiba Group (indirect emissions)
*3 GHG emissions generated by Toshiba Group’s value chain (raw materials procurement, distribution/logistics, sales, disposal, etc.) outside Scope 1 and 2 (indirect emissions)
*4 GHG emissions from purchased goods and services
*5 GHG emissions from the use of products and services sold
See below for details of achievements and initiatives.
Cyber Security Report
Cyber Security
Sustainability Management
Before re-identifying material issues, Toshiba Group extracted and organized issues with reference to the SDGs, which are universal social
issues, the Global Risks Report published by the World Economic Forum (WEF), and guidelines including the SASB Standards. We narrowed
them down to those of priority, evaluating them by their closeness to the businesses specified in the Mid-term Business Plan that starts in
FY2022 and their importance in terms of strengthening the foundations to drive businesses. External experts then reviewed the draft of the
selected issues. In August 2021, the Sustainability Strategy Committee chaired by the President and CEO confirmed the selection.
The following month, the re-identified issues were reported to the Executive Session of the Board, as it was then known. Today, the
Sustainability Strategy Committee continues to monitor progress on the issues, and regularly reports on them to the Board of Directors for
oversight and guidance.
Material Issues Identification Process
Material Issues Identification Process
We have endorsed the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD), which was established by the
Financial Stability Board, regarding the disclosure of climate change information. We are also a member of the TCFD Consortium, which
was established to promote actions by organizations in Japan in support of the TCFD recommendations. In accordance with the TCFD
recommendations, Toshiba Group will continue to disclose information on the risks and opportunities climate change poses for our
business, and will promote initiatives to reduce such risks and maximize such opportunities.
Information Disclosure Based on the TCFD Recommendations
Sustainability
Businesses
Data Section
Business Results
Strategies
Sustainability
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The main results of the latest scenario analysis conducted in FY2023 are as follows.
Category
Main Risks
Importance
Main Countermeasures
Transition
Risks
Policy and
Legal
Increase in response costs due to the wider introduction of
carbon taxes and the emissions trading systems and to the
rise in the certificate price, price passed through to raw
materials
Increase in requests for the introduction of renewable
energy due to GHG emissions reduction targets and policies
of countries
Increase in response costs due to stricter energy saving
related laws and regulations and information disclosure
related laws and regulations
Medium
Introduction of the Internal Carbon Pricing system for
suppressing increase in future energy costs and
certificate and credit related costs
Expanding the introduction of renewable energy
Promotion of the development of environmentally
conscious products with high energy saving performance
Technology
Missing out on sales opportunities due to delayed
development in response to growing demand for products
and services that contribute to carbon neutrality
Medium
Investment in the research and development of renewable
energy related technologies and products and services
with high energy saving performance
Market
Missing out on sales opportunities due to delayed response
to changes in the preference of the market and customers,
such as growing demand to respond to climate change
Increase in prices of procured items due to accelerated
decarbonization initiatives at suppliers
Medium
Appropriate and quick response to requests from
markets and customers
Formulation of a procurement plan for business
continuity including securing multiple suppliers
Reputation
Increase in business continuity risk as a result of lost trust
from stakeholders due to delayed response to climate
change
Small
Promotion of initiatives and strengthening of information
disclosure in light of requirements from outside the
company
Physical Risks
Suspended operations and increased response costs due to
the impacts of natural disasters such as typhoons and
floods (listed below)
- Damage to production equipment
- Impact on component procurement due to damage to
suppliers
- Impact on logistics and sales capabilities
- Impact on employees
Medium
Strengthening of business continuity plan (BCP)
Securing multiple suppliers
Category
Main Opportunities
Importance
Main Countermeasures
Opportunities
Increase in demand for technologies, products, and services
that contribute to carbon neutrality
Large
Provision of products and services that contribute to
carbon neutrality
- Provision of green transformation (GX) consulting service
- Development and provision of renewable energy related
technologies, VPP, hydrogen solutions, CO2 separation
and capture technology
Risks and Opportunities Common to Toshiba Group
As global warming continues and temperatures rise, we are likely to experience more natural disasters including typhoons and floods,
which seriously affect people’s daily lives and society. Other concerns include sea level rise and droughts due to low precipitation. To
respond to these impacts, the world is accelerating the movement toward achieving carbon neutrality by lowering GHG emissions to net
zero.
Toshiba Group has been driving responses to climate change, aiming to achieve carbon neutrality throughout its value chain. In addition
to reducing GHG emissions within the Group, we are actively implementing measures in each stage of the value chain, including creating
more products and services that contribute to reducing GHG emissions in society and cooperating with suppliers to reduce upstream
emissions.
To realize highly resilient corporate management as society changes in various ways due to the impact of climate change, it is important
to respond appropriately by grasping the risks and opportunities related to climate change facing Toshiba Group.
Under Sustainability Strategy Committee chaired by the President and CEO, we conduct scenario analyses for each business domain to
grasp and consider countermeasures for climate change-related risks and opportunities.
In scenario analyses, we set up the following two scenarios:
1.5°C scenario:
For mainly transition risks and opportunities, we use the Net Zero Emissions by 2050 (NZE) scenario created by the International Energy
Agency (IEA), assuming a world where the temperature increases by 1.5°C compared to the level before the industrial revolution. This
scenario predicts increase in costs due to carbon tax, energy saving related regulations, the introduction of renewable energy, etc., as well
as increase in business opportunities due to growing demand for energy technologies to realize decarbonization and energy-saving
products and services.
4°C scenario:
For mainly physical risks and opportunities, we use the RCP 8.5 scenario described in the Fifth Assessment Report of the Intergovernmental
Panel on Climate Change (IPCC), assuming a world where the temperature increases by more than 4°C compared to the level before the
industrial revolution. Although this scenario does not predict an impact due to regulations and technology as the 1.5°C scenario does, the
impact of physical damage such as greater risk of natural disasters like typhoons and floods caused by unusual weather may increase.
Scope:
To confirm the wider impact on all our main businesses, we expanded the targets of scenario analysis to the following seven business
domains in FY2023. Since each domain has various businesses and the content and degree of impact of risks and opportunities vary
according to the business, we conduct a detailed analysis for each business division to identify risks and opportunities that are specific to
each business. Not stopping at the initiatives of our own company, the analysis covers the entire value chain including the upstream
(suppliers) and downstream (customers, users).
- Energy Systems & Solutions Business
- Infrastructure Systems & Solutions Business
- Building Solutions Business
- Retail & Printing Solutions Business
- Electronic Devices & Storage Solutions Business
- Digital Solutions Business
- Other (Battery Business)
Time frames:
Three time frames are set (short, mid, and long-terms). We assumed the present to 3 years as the short-term in light of the period of the
mid-term business plan, up to FY2030 as the mid-term in light of the setting periods of Toshiba Group’s management policy and our GHG
emissions reduction targets (mid-term), and up to FY2050 as the long-term in light of Toshiba Group’s Environmental Future Vision 2050
and our GHG emissions reduction targets (long-term).
Analysis steps:
We conduct scenario analysis in line with the steps, “Risk importance assessment,” “Definition of scenario groups,” “Business impact
assessment,” and “Definition of countermeasures” based on the TCFD recommendations.
In the most recent scenario analysis, we used a common format in the business domains listed in the above scope. First, each business
division identifies transition and physical risks and opportunities that climate change would pose to their respective business in line with
Strategy
Analysis results
Analysis method
Setting scenarios
the two scenarios, “1.5°C” and “4°C,” based on the risk and opportunity categories presented in the TCFD recommendations, in light of the
relevant business circumstances. Then, each business division assesses the importance of each risk and opportunity in accordance with
the company-wide assessment standards. We set (1) three levels of impact (assessed by impact on sales or expense amounts) and (2) three
levels of likelihood (assessed by probability and frequency) as the assessment standards. By multiplying the two assessment results, we
categorize the final importance into one of three levels: low, medium, and high. Note that in this report we have mainly disclosed risks and
opportunities with medium and high importance based on the assessment results.
In addition, these analysis results were reviewed by related corporate staff divisions (Strategic Planning Division, IR Division, Sustainability
Division, Environment Division) to reflect the viewpoint of each area of expertise. Moreover, of the risks and opportunities that have been
identified and assessed, those with particularly high importance or those that are unique to each business are calculated for the amount
of financial impact and countermeasure costs by setting parameters, and we will give priority to formulating countermeasures for such
items.
* “Transition Risks” and “Opportunities” in common risks/opportunities are mainly identified assuming the 1.5°C scenario. “Physical Risks” are identified assuming the 4°C scenario.
* “Importance” of common risks/opportunities is based on the assessment of “impact” and “likelihood” as described in the “Analysis steps” above, and is determined comprehensively considering other factors
such as the status of our response to the risks/opportunities
Sustainability
Businesses
Data Section
Business Results
Strategies
Sustainability
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Under our Environmental Future Vision 2050, we aim to achieve carbon neutrality throughout
Toshiba Group’s entire value chain by FY2050. As a milestone, we aim to reduce GHG emissions by
70% by FY2030 compared to the FY2019 level.
Toshiba Group’s GHG reduction targets have been approved by the Science Based Targets*¹ initiative
(SBTi) as “net zero targets” that are consistent with the goals of the Paris Agreement.*²
(For all items below, the base year is FY2019.)
Long-term target
Reduce GHG emissions throughout the value chain to net zero*³ by FY2050.
Near-term targets
Reduce Scope 1 and Scope 2 GHG emissions by 70% by FY2030.
Reduce Scope 3 GHG emissions by 70% by FY2030.
In addition, in order to monitor the progress made toward the above targets each year, we have set and are managing targets through to
FY2026 in Toshiba Group’s Environmental Action Plan. As of FY2023, reduction is progressing smoothly in all of Scope 1, 2, and 3 toward the
achievement of the targets. We will continue to promote GHG reduction measures at each stage of the value chain.
For the results of Scope 1, 2, and Category 11 of Scope 3 (Emissions from the use of products and services sold), we undergo a third-party
verification to ensure data reliability.
Our philosophy and strategy
Response to Climate Change at Our Sites
Response to Climate Change in Products and Services
Initiatives for Carbon Neutral (Toshiba Energy Systems & Solutions Corporation)
Structure of Risk Management and Compliance
Greenhouse Gas Emissions Across the Value Chain
The Eighth Environmental Action Plan (2024-2026)
Third-party Verification
Toshiba Group’s Risks and Opportunities by Business
Toshiba Group’s risk management concerning climate change is incorporated into the company-wide risk management process. For
business risks that have significant impact on management including climate-related risks, we clarify management decision criteria,
permissible risk limits, and corporate policy on business withdrawal in making management decisions to achieve Toshiba Group’s
sustainable growth and increase corporate value. In addition, for each risk case, the Business Risk Review Committee conducts risk
assessment, identifies the maximum risk, and establishes items for monitoring.
Matters of particular importance are discussed at the Management Meeting. The Business Risk Review Committee meeting is held several
times monthly as matters arise. We have added climate-related risks (policy and legal risks, technology risks, market risks, reputation risks,
and physical risks) based on the TCFD recommendations to the business risk criteria and will work to strengthen the assessment processes
concerning climate change going forward.
With regard to risk management specialized for climate change, we identify risks and assess their importance as part of the scenario
analysis for the main business domains, which are conducted under the Sustainability Strategy Committee. For the risks identified and
assessed here, the Executive in charge of Sustainability and the Executive in charge of Environment bring them up to the Board of Directors
meetings to be reflected in the Group’s management strategy.
Risk Management
Metrics and Targets
Toshiba Group’s Risks and Opportunities by Business
Risks and opportunities for each business domain also have been identified. Please refer to the following for details.
As a result of the scenario analysis for each business assuming the 1.5°C and the 4°C scenario, we identified different risk factors depending
on the characteristics of each business. For example, technology and market risks of renewable energy-related products in the Energy
Systems & Solutions business, policy and legal risks concerning GHG emissions in manufacturing processes in the Electronic Devices &
Storage Solutions business, and risks related to human resources in the Digital Solutions business. As for opportunities, we also identified
various business opportunities for each business, including renewable energy-related technologies, railway systems, disaster management
solutions, high efficiency LED lighting, elevators with high energy-saving performance, POS systems and multifunction peripherals (MFPs),
power semiconductors, ICT solutions that contribute to reducing GHG emissions, and automotive batteries.
Some of the countermeasures for risks and opportunities that were identified and assessed in the above scenario analysis are incorporated
into the mid-term business plan of each business domain, and measures are promoted. Risks and opportunities of high importance will
continue to be reflected in mid-term business plans, and their progress will be managed regularly.
Toshiba Group has declared that it regards the social trend toward carbon neutrality as an opportunity and will contribute to achieving
carbon neutrality by building infrastructure and a data society through business activities. To increase this policy’s effectiveness, we first
launched a Group-wide project in FY2022 to formulate a GHG emissions reduction roadmap that incorporates specific measures toward
achieving carbon neutrality at our own business and production sites, and we are now promoting implementation. In addition, to
contribute to carbon neutrality for society as a whole, we have established a structure to promote our business quickly and effectively by
making organizational changes to strengthen our energy aggregation business in FY2022.
Going forward, we will continue to link scenario analysis results to Toshiba Group’s business strategy and engage in resilient business
management while appropriately responding to risks and opportunities.
*1 SBTs are scientifically grounded GHG reduction targets set by companies on a medium- to long-term basis, in order to keep the global average temperature rise well below 2 °C above pre-industrial levels,
and to pursue efforts to limit the temperature rise to 1.5 °C. Science-based targets are validated by SBTi.
*2 An international framework adopted at the twenty-first session of the Conference of the Parties (COP21) that seeks to reduce GHG emissions.
*3 90% reduction in gross emissions by 2050 at a rate consistent with a 1.5°C level reduction pathway, with the remaining carbon emissions removed from the atmosphere and permanently stored.
Countermeasures
Sustainability
Businesses
Data Section
Business Results
Strategies
Sustainability
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Toshiba Group’s business activities are deeply interrelated with the existence of natural capital, as we have sites located in areas with high
water risks and sites which use and emit large volumes of water and chemical substances during production. Therefore, we have identified
“Consideration of ecosystems” as one of our material issues and conduct activities that contribute to realizing a “nature positive world,”*¹
helping create a society in which people live in harmony with nature and continue to enjoy the blessings of the ecosystems under
Environmental Future Vision 2050.
Consideration of Ecosystems
*1 To halt and reverse biodiversity loss to put nature back on the path to recovery.
*2 A comprehensive approach to assessing nature-related issues such as points of contact with nature, dependencies on nature, impacts, risks, and opportunities consisting of four steps of Locate, Evaluate,
Assess, and Prepare that are recommended by the TNFD.
*3 A tool for assessing exposure to nature-related risks and understand dependencies and impacts on nature. Assessment is conducted using the latest database updated in July 2024. ENCORE. (UN
Environment Programme (UNEP))
To evaluate both the “impact of nature on our business activities” and “impact of our business activities on nature” from the perspective
of “double materiality,” Toshiba Group is assessing the dependencies and impacts of our business activities on nature based on the LEAP
approach,*² identifying nature-related risks and opportunities that may arise in the future, and considering countermeasures, by referring
to the final recommendations issued by the Task Force on Nature-related Financial Disclosures (TNFD) in September 2023.
Based on the results, we recognized again that our production sites are “dependent” on “provisioning services” such as water supply and
“regulating and maintenance services” such as solid waste remediation, dilution by atmosphere and ecosystems, and rainfall pattern
regulation, and that there are potential “impacts” on the state of nature, such as use of water resources at factories, emissions of GHG and
non-GHG air pollutants, emissions of toxic pollutants to soil and water, generation and release of waste, and noise disturbances.
Focusing primarily on approximately 60 production sites in Japan and overseas, we used the external tool ENCORE*³ to conduct scoring
to clarify the dependencies and impacts within each site’s business activities. Heat maps, as shown in Table 1 and Table 2, were created
based on this analysis.
Assessment of Dependencies and Impacts on Natural Capital and Extraction
of Priority Sites
Heat map related to “dependencies” (Table 1)
Heat map related to “impacts” (Table 2)
High
Medium
Low
High
Medium
Low
High
Medium
Low
Business domain
Energy Systems &
Solutions
Infrastructure Systems
& Solutions
Building
Solutions
Electronic Devices &
Storage Solutions
Retail & Printing
Solutions
Other (Battery
Business, etc.)
Business operated
Manufacturing
(electronics)
Manufacturing
(machinery, parts, etc.)
Infrastructure
construction
Manufacturing
(electronics)
Manufacturing
(machinery, parts, etc.)
Recycling
Manufacturing
(electronics)
Manufacturing
(machinery, parts, etc.)
Manufacturing
(electronics)
Manufacturing
(semiconductors)
Manufacturing
(machinery, parts, etc.)
Manufacturing
(electronics)
Manufacturing
(machinery, parts, etc.)
Manufacturing
(electronics)
Manufacturing
(machinery, parts, etc.)
Direct
physical
input
Animal-based energy
Fibers and other materials
Genetic substances
Water supply
Product
process
Maintaining habitats for juvenile fish,
etc.
Pollinating service
Maintaining soil fertility
Maintaining a healthy water flow
(drought control, etc.)
Water quality
Reduction
of direct
impact
Solid waste remediation
Dilution by atmosphere and
ecosystems
Air filtration
Attenuation of noise pollution
Attenuation of pollution other than
noise
Business domain
Energy Systems &
Solutions
Infrastructure Systems
& Solutions
Building
Solutions
Electronic Devices &
Storage Solutions
Retail & Printing
Solutions
Other (Battery
Business, etc.)
Business operated
Manufacturing
(electronics)
Manufacturing
(machinery, parts, etc.)
Infrastructure
construction
Manufacturing
(electronics)
Manufacturing
(machinery, parts, etc.)
Recycling
Manufacturing
(electronics)
Manufacturing
(machinery, parts, etc.)
Manufacturing
(electronics)
Manufacturing
(semiconductors)
Manufacturing
(machinery, parts, etc.)
Manufacturing
(electronics)
Manufacturing
(machinery, parts, etc.)
Manufacturing
(electronics)
Manufacturing
(machinery, parts, etc.)
Protection
from
disruption
Soil erosion and sediment movement
regulation
Global climate regulation
Local climate regulation
Biological control
Natural disaster mitigation (flood)
Natural disaster mitigation (storms)
Rainfall pattern regulation
Culture
aspect
Recreation-related services
Visual amenity services
Education, scientific, and research
services
Spiritual, artistic, and symbolic
services
Business domain
Energy Systems &
Solutions
Infrastructure Systems
& Solutions
Building
Solutions
Electronic Devices &
Storage Solutions
Retail & Printing
Solutions
Other (Battery
Business, etc.)
Business operated
Manufacturing
(electronics)
Manufacturing
(machinery, parts, etc.)
Infrastructure
construction
Manufacturing
(electronics)
Manufacturing
(machinery, parts, etc.)
Recycling
Manufacturing
(electronics)
Manufacturing
(machinery, parts, etc.)
Manufacturing
(electronics)
Manufacturing
(semiconductors)
Manufacturing
(machinery, parts, etc.)
Manufacturing
(electronics)
Manufacturing
(machinery, parts, etc.)
Manufacturing
(electronics)
Manufacturing
(machinery, parts, etc.)
Change in
land,
water and
sea use
Area of land use
Area of freshwater use
Area of seabed use
Use of
resources
Use of water resources
Other abiotic resource extraction
Other biotic resource extraction (fish,
timber, etc.)
Climate change Emissions of GHG
Pollution
Emissions of non-GHG air pollutants
Emissions of toxic pollutants to soil
and water
Emissions of nutrient pollutants to
soil and water
Generation and release of solid waste
Other
Disturbances (noise, light, etc.)
Introduction of invasive species
(1) Assessing the dependencies and impacts on nature capital
Sustainability
Businesses
Data Section
Business Results
Strategies
Sustainability
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Water
resource
risks
Groundwater
resource
risks
Water quality
risks
Regulatory/
Reputational
(Amount of water
withdrawal) risks
Regulatory/
Reputational
(Wastewater
quality) risks
Flood
risks
Drought
risks
Legend
Priority 1
Priority 2
Priority 3
Priority 4
Other
4 sites
49 sites
61 sites
59 sites
55 sites
45 sites
29 sites
46 sites
7 sites
7 sites
8 sites
8 sites
12 sites
12 sites
8 sites
8 sites
7 sites
7 sites
8 sites
8 sites
3 sites
3 sites
3 sites
3 sites
3 sites
3 sites
3 sites
3 sites
4 sites
4 sites
2 sites
2 sites
2 sites
2 sites
2 sites
2 sites
0 site
0 site
1 site
1 site
1 site
4 sites
0 site
0 site
0 site
0 site
0 site
0 site
0 site
0 site
For items with a high degree of “dependencies” or “impacts” identified in the assessment in (1), we assessed the locations of activities
(sites’ addresses) using relevant tools and indicators, and extracted priority sites based on the business scale and relevant environmental
data.
The following are the items and number of sites within Toshiba Group that should receive priority consideration with regard to “dependencies”
and “impacts” on nature, as extracted through the assessment. Based on these results, we will work to organize future risks and
opportunities according to the LEAP approach, and strive to discover new insights and set new indicators and targets in the future.
The above results indicate sites that were extracted as those that should receive priority consideration for possible future risks, and do not
represent locations where risks currently occur. Toshiba Group is thoroughly implementing activities for risk reduction at its sites around
the world, including Japan, such as setting and managing voluntary control standards to prevent pollution.
For details on the assessment methods related to dependencies on and impacts on natural capital, as well as priority sites, please refer to
the following:
Toshiba Group focuses on minimizing water risks at sites identified as high-risk through this assessment. Additionally, we contribute to
resolving water issues in each region by providing products and services designed to mitigate water risks.
For details on the assessment methods and results related to water risks, please refer to the following:
Items
Number of sites that should receive priority
consideration (priority sites)
Countries where the priority sites are
located
Water supply
2 sites
Japan
Solid waste remediation*⁴
3 sites
Japan, Thailand
Dilution by atmosphere and ecosystems*⁵
1 site
Japan
Rainfall pattern regulation*⁶
1 site
Japan
Items
Number of sites that should receive priority
consideration (priority sites)
Countries where the priority sites are
located
Use of water resources
4 sites
Japan, Thailand
Emissions of non-GHG air pollutants
3 sites
Japan, U.S., China
Emissions of toxic pollutants to soil and water
13 sites
Japan, U.S., China, India, Vietnam
Generation and release of solid waste
2 sites
Japan
Dependencies on Nature
Impacts on Nature
*4 The natural process of environmental pollution remediation by degrading, reducing, or detoxifying pollutants by microorganisms, plants, algae, etc.
*5 The process of diluting gas, liquid and solid waste generated by business activities with water (fresh water and salt water) and atmosphere.
*6 The effect of vegetation, especially forests, on maintaining rainfall patterns through evapotranspiration on a subcontinental scale.
*7 Using a tool (ENCORE) to assess companies’ impacts on nature and the extent of their dependencies on nature, the impacts on land, freshwater and ocean use change; resource use; climate change;
pollution, etc. are assessed for each business area.
*8 Areas certified by the government as a place where biodiversity is conserved through private-sector initiatives. Certified areas, excluding those that overlap with protected areas, are registered in the World
Database on OECMs (Other Effective area-based Conservation Measures; locations other than protected areas that contribute to biodiversity conservation).
Towards the Realization of a Society in Harmony with Nature
Conservation of Biodiversity
Case studies “Community-based biodiversity conservation activities at beaches and rivers”
(Toshiba Lighting & Technology Corporation Imabari Complex)
Odagahama Beach, where Toshiba Lighting & Technology Corporation’s Imabari Operations is conducting conservation activities
in cooperation with the local community, has been registered in the World Database on OECMs
(Other Effective area-based Conservation Measures)
Response to Water Risk
Toshiba Group, encompassing many businesses, has businesses with large impacts on water resources among natural capital.*⁷ In
addition, since our sites are located in various regions around the world, response to “water risks” is an important issue in our environmental
management. Therefore, we assess and analyze “water risks” that affect corporate activities and are working to strengthen water risk
management.
In the assessment, we first conducted the primary assessment using “Aqueduct,” a water risk assessment tool run by the World Resources
Institute (WRI), along with implementation of a questionnaire survey of the target sites and analysis of hazard maps to supplement the
assessment results, in order to obtain and develop data for each site. Through this process, we assessed the water risks of river basins
(external factor assessment) on a five-point scale (very High/High/Medium/Low/very Low).
Next, from the sites with a high risk level identified as “very High” or “High” in the external factor assessment results, we chose high priority
sites (Priority 1 to 4) taking into consideration the business impact level (Category 1 to 5) based on major indicators, including the amount
of water withdrawal, amount of water discharged, and production output, then finally extracted sites with high water risks.
The Kunming-Montreal Global Biodiversity Framework includes a target that aims to effectively conserve at
least 30% of land and sea areas as sound ecosystems by 2030, commonly known as the “30by30 target” (Target
3). Since Toshiba Group has sites around the world and recognizes the sustainable use of land to be an important
issue, we participate in the “30by30 Alliance for Biodiversity” established by the Ministry of the Environment as
a first step toward directly contributing to the achievement of the “30by30 target.” Against this backdrop,
Toshiba Lighting & Technology Corporation’s Imabari Complex in Ehime Prefecture is working with the local
community to preserve Odagahama Beach, and in October 2023, the beach was certified as one of Nationally
Certified Sustainably Managed Natural Sites,*⁸ then registered in the World Database on OECMs in August 2024
as an internationally important area for biodiversity conservation. Going forward, we will aim to contribute to
expanding the number of such sites through nature conservation activities inside the premises and in the
neighborhood in Japan, as well as collect information and consider how we can contribute to the target through
our sites abroad.
Water Risk Assessment
Contribution to the “30by30 target”
(2) Extracting priority sites
Sustainability
Businesses
Data Section
Business Results
Strategies
Sustainability
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Directors
As of January 1, 2025
Representative Director:
Taro SHIMADA
Corporate Officer, President and Chief Executive Officer
Directors:
Hidemi MOUE
Chairperson of the Board of Directors
Shinichi INAGAKI
Koji IKEYA
Corporate Officer, Corporate Senior Executive Vice President
Katsu HARASHIMA
Satoru KATSUNO
Akikazu IDA
Shareholders’ Meeting
Audit
Report
Proposal Submission
Delegating and
supervising
part of
business
execution
Appointment
and Dismissal
Appointment
and Dismissal
Appointment
and Dismissal
Report
Report
Report
Report
Report
Execution
Audit
Accounting
Audit
Audit
Audit
Division A
Division C
Board of Directors
Corporate
Auditors
Accounting
Auditor
Directors
Representative Director,
President and Executive Director
Management Meeting
Executive Officers
Execution Division
Division B
Subsidiary Companies
Internal Audit Div.
Alignment
Alignment
Supervision
and Decision
making
Corporate Governance
The basic policy and purpose of Toshiba’s corporate governance are to realize sustainable growth and enhance enterprise value of the
Group over the medium-to-long term, and to contribute to the interests of all stakeholders, including its shareholder, employees,
customers, business partners, creditors, and local communities. Under this policy, the Company strengthens corporate governance.
The Company transitioned from a company with three statutory committees, including the nominating committee, to a company with a
board of directors that has statutory auditors in December 2023. The Company’s corporate governance structure is shown as follows:
Corporate Governance Structure
Directors and Executives
Corporate Auditors
As of January 1, 2025
Corporate Auditors:
Yuko HIRAI
Ayumi WADA
Kazuya KOBAYASHI
Corporate Officers
Corporate Officer,
President and Chief
Executive Officer:
Taro SHIMADA
President and CEO, Toshiba Corporation
Representative Director, President and CEO of: Toshiba Energy Systems & Solutions Corporation; Toshiba Infrastructure
Systems & Solutions Corporation; Toshiba Electronic Devices & Storage Corporation
Director, President and CEO, Toshiba Digital Solutions Corporation
Corporate Officer,
Corporate Senior Executive
Vice President:
Koji IKEYA
Senior Executive, Management Transformation Project Team, Strategic Planning Div., DX, Design & Communications
Div., Finance & Accounting Control Div., Legal & Compliance Div., and Human Resources and Administration Div.,
Toshiba Corporation
Corporate Officer,
Corporate Executive Vice
President:
Fumiharu KOZUKA
General Executive, Internal Audit Div., Toshiba Corporation
Corporate Officer,
Corporate Senior Vice
Presidents:
Shunsuke OKADA
Senior Executive, Information Systems Div.,
General Executive, Next Business Development Div., DX, Design & Communications Div., and Digital Innovation
Technology Center, Toshiba Corporation
Takamasa MIHARA
General Executive, Legal & Compliance Div., and Human Resources and Administration Div., Toshiba Corporation
Yutaka SATA
General Executive, Research & Development Center and Corporate Manufacturing Engineering Center,
Assistant to Shunsuke OKADA, Corporate Officer, Corporate Senior Vice President (for Next Business Development
Div. and Digital Innovation Technology Center), Assistant to Iwao TSUJI Corporate Officer, Corporate Vice President
(for Corporate Technology Planning Div.), Toshiba Corporation
Masaki HARUYAMA
General Executive, Strategic Planning Div., Battery business, Building Solutions business, Energy System business
(for Toshiba Plant Systems & Services Corporation), and Electronic Devices & Storage business (for NuFlare
Technology, Inc.), Toshiba Corporation
Corporate Officer,
Corporate Vice President
and Chief Financial Officer:
Yasuhiro MATSUNAGA
General Executive, Finance & Accounting Control Div., Toshiba Corporation
Corporate Officer,
Corporate Vice Presidents:
Iwao TSUJI
General Executive, Corporate Technology Planning Div., and Infrastructure Systems business,
Assistant to Masaki HARUYAMA, Corporate Officer, Corporate Senior Vice President (oversees Toshiba Plant
Systems & Services Corporation), Toshiba Corporation
Director, Vice President, Toshiba Infrastructure Systems & Solutions Corporation
Vice President, Security & Automation Systems Div., Toshiba Infrastructure Systems & Solutions Corporation
Hiroshi TSUKINO
General Executive, Digital Solutions business, Toshiba Corporation
Director, Vice President, Toshiba Digital Solutions Corporation
Vice President, ICT Solutions Div., Toshiba Digital Solutions Corporation
Hiroshi KANETA
General Executive, WEC Div., and Energy System business, Toshiba Corporation
Director, Vice President, Toshiba Energy Systems & Solutions Corporation
Vice President, Grid Solution Div., Toshiba Energy Systems & Solutions Corporation
Noriyasu KURIHARA
General Executive, Electronic Devices & Storage business, Toshiba Corporation
Director, Vice President, Toshiba Electronic Devices & Storage Corporation
Vice President, Semiconductor Div., Toshiba Electronic Devices & Storage Corporation
As of January 1, 2025
Sustainability
Businesses
Data Section
Business Results
Strategies
Sustainability
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Toshiba Group has set up three lines of internal control system, with the business divisions as the front line, the administrative divisions as
the second, and the audit divisions as the third. This system effectively manages risks by assigning to each line a clearly defined role and
requiring each line to adequately perform their duties through check and balances. Through this, Toshiba realizes effective risk management
for coping with various risks in the changing business environment.
Toshiba was once designated as a “security on alert” due to the inappropriate accounting issues in 2015, but thereafter worked to improve
its internal management system* and was reinstated to the first sections of Tokyo and Nagoya Stock exchanges in January 2021. While
Toshiba became delisted from the stock exchanges on December 20, 2023, Toshiba will continue to maintain and reinforce our internal
management system. Toshiba Group defines and works toward for thorough deployment of “Standards of Conduct for Toshiba Group
(SOC)” as a concrete code of conduct and guidelines for fair, sincere and transparent business activities and for being an enterprise that
contributes to realization of a sustainable society. Each Toshiba Group Company adopts their own SOC to be instilled within themselves.
Toshiba Group’s top management continuingly issues messages to communicate their commitment towards compliance and to foster a
culture where compliance is top prioritized across the entire Group.
Toshiba Group maintains a policy of “zero tolerance” against fraud.
As a preventative action against fraud, every year we systematically organize scenarios of fraud risks in each particular business, including
fraud risks in financial reporting and accounting. Then we conduct inspections on each Group company to ascertain the actual situation
and strengthen guidance for improvement. In FY2023, we conducted inspections of fraud risks related to cash management, purchasing,
and fixed asset management.
If fraud is uncovered, we conduct investigation for precisely finding the facts and identifying the root causes, seriously consider the facts,
implement thorough recurrence prevention, and disclose information in a proper, timely manner as necessary. Employees involved in
fraud will be subject to rigorous treatment, including disciplinary actions.
Toshiba has risk management systems for compliance risks, as well as for business risks (uncertain factors in strategic decision-making and
execution of business activities, that may prevent the achievement of business purpose and project objectives.)
To address compliance risks, we appoint a Chief Risk & Compliance Officer (CRO) who will oversee risk management and compliance for
the entire Group. The executive officer in charge of Legal & Compliance Division serves as the CRO. Under the CRO, the Legal & Compliance
Division responds to misconduct reports, works for global compliance and aims at strengthening Toshiba’s internal management system,
promoting efficient risk management and compliance activities.
The CRO chairs the Risk Compliance Committee, which is attended by relevant executive officers, including the President & CEO. The
Committee deliberates matters related to accounting compliance in response to the inappropriate accounting in 2015, and analyzes
misconduct reports and incidents, both internal and external. At the Committee held in beginning of each fiscal year, the Committee
evaluates impacts of risks and the status of risk control in accordance with the risk table that covers compliance risks based on the SOC,
and then determines priority measures of that fiscal year. The Risk Compliance Committee is a second-line organization, but the Corporate
Auditors and the head of the Internal Audit Division also attend at the Committee for sharing information and opinion with the the third
line. The matters discussed at the Committee are reported to the Board of Directors.
In response to the inappropriate accounting in 2015, Toshiba has worked to strengthen accounting compliance by establishing a special
accounting compliance system. In order to further strengthen the overall compliance system, from FY2021, Toshiba evolved a system into
one that encompasses accounting compliance and other compliance issues, and began promoting centralized management.
Toshiba operates a risk management system (RMS) incorporating a PDCA cycle* led by administrative divisions at the second line, for
centralizing the status of compliance risk management at Toshiba Group Companies. In the RMS, we implement a Risk Assessment Program
(RAP) to assess risks of Toshiba Group companies. Risks identified through the assessment are mitigated through the instructions of the
administrative divisions, and are grasped and further mitigated by self-disciplined actions by the relevant business Divisions at the first line.
Corporate Officers
Corporate Officer,
Corporate Vice Presidents:
Hirofumi YOSHINO
Responsible for Railway Systems business, Toshiba Corporation
Director, Vice President, Toshiba Infrastructure Systems & Solutions Corporation
Vice President, Railway Systems Div., Toshiba Infrastructure Systems & Solutions Corporation
Shinya FUJITSUKA
General Executive, Management Transformation Project Team and Process Transformation Div.,
Assistant to Yutaka SATA, Corporate Officer, Corporate Senior Vice President (for Corporate Manufacturing
Engineering Center), Toshiba Corporation
Corporate Officers:
Kazuya SAKAGUCHI
Responsible for Social Systems business, Toshiba Corporation
Director, Toshiba Infrastructure Systems & Solutions Corporation
Vice President, Social Systems Div., Toshiba Infrastructure Systems & Solutions Corporation
Koichi YANABE
Responsible for Industrial Systems business, Toshiba Corporation
Director, Toshiba Infrastructure Systems & Solutions Corporation
Vice President, Industrial Systems Div., Toshiba Infrastructure Systems & Solutions Corporation
Kenji KOBAYASHI
Responsible for Defense & Electronic Systems business, Toshiba Corporation
Director, Toshiba Infrastructure Systems & Solutions Corporation
Vice President, Defense & Electronic Systems Div., Toshiba Infrastructure Systems & Solutions Corporation
Shigehiro KAWAHARA
Responsible for Energy Aggregation business, Toshiba Corporation
Director, Toshiba Energy Systems & Solutions Corporation
Vice President, Energy Aggregation Div., Toshiba Energy Systems & Solutions Corporation
Takehiro KAI
Responsible for Smart Manufacturing business, Toshiba Corporation
Director, Toshiba Digital Solutions Corporation
Vice President, Smart Manufacturing Div., Toshiba Digital Solutions Corporation
Director, Toshiba Infrastructure Systems & Solutions Corporation
Vice President, Smart Manufacturing Div., Toshiba Infrastructure Systems & Solutions Corporation
Toshihiko TAKAOKA
Responsible for Battery Div.,
Vice President, Battery Div., Toshiba Corporation
Shin KUROSAWA
Responsible for Storage Products business, Toshiba Corporation
Director, Toshiba Electronic Devices & Storage Corporation
Vice President, Storage Products Div., Toshiba Electronic Devices & Storage Corporation
Kazuhiko NISHIKAWA
General Executive, Information Systems Div., Toshiba Corporation
Tsutomu TAKEUCHI
Responsible for Power Systems business, Toshiba Corporation
Director, Toshiba Energy Systems & Solutions Corporation
Vice President, Power Systems Div., Toshiba Energy Systems & Solutions Corporation
Takahide YOSHIDA
General Executive, Marketing Div., and Branch Offices,
Assistant to Shinya FUJITSUKA, Corporate Officer, Corporate Vice President (for Management Transformation
Project Team), Toshiba Corporation
Minoru MUKAI
Vice President, Corporate Research & Development Center, Toshiba Corporation
Takao YAGI
President, TOSHIBA CHINA CO., LTD.
Policy on Risk Management and Compliance
* For information on Toshiba’s efforts to improve its internal management system, please refer to the Report on Improvements of Internal Management System dated October 20, 2017 and the Progress Report
on Improvements of Internal Management System dated July 25, 2018.
https://www.global.toshiba/content/dam/toshiba/migration/corp/irAssets/about/ir/jp/news/20171020_1.pdf
https://www.global.toshiba/content/dam/toshiba/migration/corp/irAssets/about/ir/jp/news/20180725_1.pdf
Response to Fraud
Structure of Risk Management and Compliance
* Plan: Identification and assessment of risks; Do: creation and operation of rules; Check: review and fact-finding surveys; Action: formulation and implementation of improvement plans
Sustainability
Businesses
Data Section
Business Results
Strategies
Sustainability
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Toshiba’s Whistleblower System
Furthermore, since FY2020, we have systematically organized fraud risk scenarios related to financial reporting and accounting, and conducted
inspections at Group companies to understand the status of their fraud risk, while strengthening guidance to improve such status.
In the event of a serious compliance-related incident, there is a system in place by which such incident is reported immediately to the
President and CEO, Corporate Senior Executive Vice President (SEV), CRO, Corporate Auditors among others, through the reporting system.
Under these systems, the relevant in-house committees, etc. promptly evaluate and implement countermeasures.
As for business risks, Toshiba makes management decisions for business execution by setting a clear management decision criteria aiming
at Toshiba Group’s sustainable growth and corporate value increase, permissible risk limits and corporate policy on business withdrawal.
For each management decision case, the Business Risk Review Committee conducts risk checks, identifies the maximum risk, and
establishes items for monitoring. In the future, we aim to build a system (ERM: Enterprise Risk Management) that integrates and centrally
manages business risks and compliance risks.
Corporate
Key Group Company
President and CEO
Executive Officer in charge of Legal & Compliance
Risk Compliance Committee*1
Corporate Risk Management Committee
Corporate CPL*2 Examination Committee
Corporate Lawsuit Committee
Oversea Safety Committee
Risk Compliance Committee
CPL Examination Committee
[Compliance risk]
Executive Officer in charge of
Strategic Planning Division
Business Risk Review Committe
Business Risk Management System
[Business risk]
Risk Management and Compliance Structure
*1 The Risk Compliance Committee manages matters related to the Standards of Conduct for Toshiba Group and matters related to risk management and compliance.
*2 CPL is an abbreviation combining CL (contractual liability) and PL (product liability).
Toshiba Group creates an open work environment by stimulating day-to-day communication in each workplace thereby preventing risks,
and on the other hand, enhances its misconduct reporting (whistleblowing) system.
For reporting and consultation, we have established the Toshiba Hotline, the Toshiba Group Overseas Hotline, and the Corporate Auditor
Hotline for our employees as well as the Clean Partner Line for business partners. In addition, we use the Engagement and Remedy
Platform of the Japan Center for Engagement and Remedy on Business and Human Rights (JaCER) for receiving grievances/reports and
consultation on human rights issues from all stakeholders.
As indicated in Standards of Conduct for Toshiba Group, Toshiba Group’s basic export policy is to refrain from any transaction that could
potentially undermine international peace and security. We comply with all applicable export control laws and regulations of the countries
and regions where we operate, for example Foreign Exchange and Foreign Trade Law in the case of Japan and U.S. export control laws and
regulations with respect to transactions involving items of U.S. origin.
In accordance with the policy, Toshiba Group has established the Export Control Compliance Program (ECCP). Based on the program, we
classify the goods and technology and screen transactions. In addition to periodic export control audits and education for all executives
and employees, key Group companies and corporate staff divisions provide instructions and support to the Group companies they
supervise.
Points of Contact for Whistleblowing, Consultation and Remedy
Export Control Policy
The reporting system provides prompt, appropriate responses at all points of contact while giving due consideration to privacy. Specifically,
each Group company has stipulated in its regulations a confidentiality obligation and a prohibition on unfavorable treatment of
whistleblowers; has prepared manuals for persons in charge of misconduct reporting responses to ensure the same; and has continued to
make improvements through periodic audits. We also provide training on the structure of the reporting system and make employees
aware of its existence through e-learning and websites for employees. Toshiba Group in Japan maintains and operates a response system
that complies with the amended Whistleblower Protection Act.
Sustainability
Businesses
Data Section
Business Results
Strategies
Sustainability
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Topic
Accounting Metric
Category
Unit of Measure
Code
Disclosure
Reference
Energy Management
(1) Total energy consumed
(2) Percentage grid electricity
(3) Percentage renewable
Quantitative
Gigajoules (GJ),
Percentage (%)
RT-EE-130a.1
(1) 21,471,000 GJ
(2) 74%
(3) 38%
Environmental Data
Response to Climate Change at Our Sites
Hazardous Waste
Management
Amount of hazardous waste generated, percentage
recycled
Quantitative
Metric tons (t),
Percentage (%)
RT-EE-150a.1
Total amount of hazardous waste: 4,200 t
Percentage recycled: 94%
Percentage incinerated: 8.7%
Environmental Data
Response to Climate Change at Our Sites
Number and aggregate quantity of reportable spills,
quantity recovered
Quantitative
Number,
Kilograms (kg)
RT-EE-150a.2
Number of substances: 25
Amount of chemical substances released: 2,170 kg
No reportable chemical substances were released into the soil
Product Safety
Number of recalls issued, total units recalled
Quantitative
Number
RT-EE-250a.1
Number of recalls started from FY 2023: 1 voluntary recall
Number of units recalled: 84,496 units across 11 models
Disclosure of Product Safety and Quality Information
Total amount of monetary losses as a result of legal
proceedings associated with product safety
Quantitative
Reporting currency
RT-EE-250a.2
—
Product Lifecycle
Management
Percentage of products by revenue that contain IEC
62474 declarable substances
Quantitative
Percentage (%) by
revenue
RT-EE-410a.1
Toshiba Group promotes green procurement as a part of our environmental
considerations in the manufacturing processes. Our Green Procurement Guidelines
supported management of chemical substances in procured goods by establishing the
“Toshiba Group Environment-related Substance List,” which includes applicable
substances on the IEC62474 Declarable Substance List. Since 1999, we have revised the
Green Procurement Guidelines as necessary in order to respond to changing
circumstances, such as stricter regulations on chemicals contained in products.
Toshiba Group Green Procurement Guideline
Green Procurement / Green Purchase
Percentage of eligible products, by revenue, that meet
ENERGY STAR® criteria
Quantitative
Percentage (%) by
revenue
RT-EE-410a.2
Only a limited number of Toshiba Group products are eligible for ENERGY STAR®.
Among them, certain multifunction peripherals (MFPs) manufactured and sold by
Toshiba Tec Corporation meet the ENERGY STAR® criteria. However, their revenue
accounts for only a small percentage of Toshiba Group’s total consolidated sales.
Revenue from renewable energy-related and energy
efficiency-related products
Quantitative
Reporting currency
RT-EE-410a.3
Toshiba Group provides a wide range of equipment, systems and services that
generate, transfer, store and smartly use electricity. We aim to build a society that
realizes both a stable electricity supply and harmony with the environment and future
generations can live with peace of mind.
Materials Sourcing
Description of the management of risks associated with
the use of critical materials
Discussion and
Analysis
n/a
RT-EE-440a.1
Toshiba Group introduced Business Continuity Plan (BCP) Procurement Guidelines in
2012. In the same year, we built a system to manage corporate information on upstream
suppliers, in order to minimize the risk of and the time required to resolve supply chain
disruptions.
Risk Management Using the Business Continuity Plan
(BCP)
Business Ethics
Description of policies and practices for prevention of:
(1) corruption and bribery and
(2) anti-competitive behavior
Discussion and
Analysis
n/a
RT-EE-510a.1
Toshiba Group has engaged in rigorous efforts to prevent violation of antitrust law,
bribery, and other corrupt practices. For each, it has established compliance programs
reflecting laws and regulations in Japan and overseas as well as associated sets of
guidelines. Those guidelines clearly define and prohibit subject acts such as cartels,
bribery and facilitation payments. In addition, the compliance programs and guidelines
stipulate the internal systems, and provide for pre-screening related to contact with
civil servants and a due diligence policy for comprehending risks of bribery regarding
with concerned parties. Also, in accordance with provisions of the compliance
programs, Toshiba makes sure to provide education, and conduct voluntary audits,
etc. To prevent violations and detect situations leading to violations at an early stage,
Toshiba Group established the whistleblower system for employees and the Clean
Partner Line for suppliers and business partners as a system to report violations or
suspected violations, encouraging them to use such systems.
Compliance with the Antimonopoly Act and Anti-corruption
Total amount of monetary loses as a result of legal
proceedings associated with bribery or corruption
Quantitative
Reporting currency
RT-EE-510a.2
0 yen
Total amount of monetary loses as a result of legal
proceedings associated with anti-competitive behavior
regulations
Quantitative
Reporting currency
RT-EE-510a.3
0 yen
*1
*2
*3
*4
*5
*5
Activity Metric
Category
Unit of Measure
Code
Disclosure
Reference
Number of units produced by product category
Quantitative
Number
RT-EE-000.A
Toshiba Group contributes to a sustainable future through the global delivery of
products and services in a wide range of business domains
Toshiba Group Business Domains
Number of employees
Quantitative
Number
RT-EE-000.B
105,331
Corporate Data
*6
*1 Renewable energy refers to energy from solar power
*2 The total volume of hazardous waste is the amount of specially controlled industrial waste defined by the Waste Management and Public Cleasing Law in Japan
*3 Volume of hazardous waste recycled refers to the amount of specially controlled industrial waste that the company recycled
*4 Volume of hazardous waste incinerated refers to the amount of specially controlled industrial waste that the company used for energy recovery
*5 Reportable amount of chemical substances released is the number and volume of substances managed by Toshiba Group among substances designated as hazardous substances in the Comprehensive
Environmental Response, Compensation, and Liability Act (CERCA) in the U.S.
*6 As of March 31, 2024
SASB Reference Table
Sustainability
Businesses
Data Section
Business Results
Strategies
Data Section
Data Section
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Consolidated Subsidiaries and Affiliated Companies
Japan Semiconductor Corporation
Kaga Toshiba Electronics Corporation
Nishishiba Electric Co., Ltd.
Nuclear Fuel Industries, Ltd.
NuFlare Technology, Inc.
Toshiba Data Corporation
Toshiba Electronic Devices & Storage
Corporation
Toshiba Digital Solutions Corporation
Toshiba Elevator and Building Systems
Corporation
Toshiba Energy Systems & Solutions
Corporation
Toshiba Global Commerce Solutions Holdings
Corporation
Toshiba Industrial Products and Systems
Corporation
Toshiba Infrastructure Systems & Solutions
Corporation
Toshiba IT-Services Corporation
Toshiba Lighting & Technology Corporation
Toshiba Materials Co., Ltd.
Toshiba Plant Systems & Services Corporation
Toshiba Tec Corporation
Toshiba Tec Solution Service Corporation
Toshiba Denzai Marketing Co.,Ltd.
Toshiba Trading Inc.
Toshiba America Business Solutions, Inc.
Toshiba America Electronic Components, Inc.
Toshiba America, Inc.
Toshiba Asia Pacific Pte., Ltd.
Toshiba (Australia) Pty., Ltd.
Toshiba (China) Co., Ltd.
Toshiba Electronic Components Taiwan
Corporation
Toshiba Elevator (China) Co., Ltd.
Toshiba Elevator (Shenyang) Co., Ltd.
Toshiba Europe GmbH
Toshiba Europe Ltd.
Toshiba Gulf FZE
Toshiba Hydro Power (Hangzhou) Co., Ltd.
Toshiba Industrial Products Asia Co., Ltd.
Toshiba Information Equipment (Philippines),
Inc.
Toshiba International Corporation
Toshiba International Procurement Hong Kong,
Ltd.
Toshiba JSW Power Systems Private Ltd.
Toshiba Lighting & Technology (Kunshan) Co.,
Ltd.
Toshiba Semiconductor (Thailand) Co., Ltd.
Toshiba Tec France Imaging Systems S.A.
Toshiba Tec Singapore Pte., Ltd.
Toshiba Tec U.K. Imaging Systems Ltd.
Toshiba Transmission & Distribution Systems
Asia Sdn. Bhd.
Toshiba Transmission & Distribution Systems
(India) Private Ltd.
TPSC (India) Private Ltd.
TPSC (Thailand) Co., Ltd
EREX New Energy Saiki Co., Ltd.
Kioxia Holdings Corporation
KK6 Safety Measures Joint Venture Corporation
SBS Toshiba Logistics Corporation
TMEIC Corporation
WingArc1st Inc.
Dalian Toshiba Locomotive Electric Equipment
Co.,Ltd.
GE Toshiba Turbine Components de Mexico
S.R.L. de C.V.
MTJV (Thailand) Co., Ltd.
Henan Pinggao Toshiba High-Voltage
Switchgear Co., Ltd.
PG Toshiba (Henan) Switchgear Components
Manufacturing Co. , Ltd.
Schneider Toshiba Inverter SAS
TDS Lithium-Ion Battery Gujarat Private Ltd.
TMEIC Corporation Americas
TMEIC Industrial Systems India Private Ltd.
Toshiba Mitsubishi-Electric Industrial Systems
(China) Corporation
Domestic
Domestic
Overseas
Overseas
Consolidated Subsidiaries
(As of March 31, 2024)
Affiliated Companies Accounted for by the Equity Method
(As of March 31, 2024)
Organization Chart (As of January 1, 2025)
Management Transformation Project Team
Strategic Planning Div.
Next Business Development Div.
DX, Design & Communications Div.
Information Systems Div.
Finance & Accounting Control Div.
Legal & Compliance Div.
Human Resources & Administration Div.
Process Transformation Div.
Komukai Complex
Fuchu Complex
Yokohama Complex
Himeji Operations
Keihin Operations
HamakawasakiOperations
Corporate Technology Planning Div.
Corporate Research & Development Center
Corporate Manufacturing Engineering Center
Digital Innovation Technology Center
Marketing Div.
Internal Audit Div.
Battery Div.
KashiwazakiOperations
Yokohama Battery Operations
WEC Div.
Kansai Branch Office
Chubu Branch Office
Kyushu Branch Office
Chugoku Branch Office
Hokuriku Branch Office
Tohoku Branch Office
Hokkaido Branch Office
Shikoku Branch Office
KanshinetsuBranch Office
Energy Systems & Solutions
Toshiba Energy Systems & Solutions Corporation
Toshiba Plant Systems & Services Corporation
Infrastructure Systems & Solutions
Toshiba Infrastructure Systems & Solutions Corporation
Building Solutions
Toshiba Elevator and Building Systems Corporation
Toshiba Lighting & Technology Corporation
Retail & Printing Solutions
Toshiba Tec Corporation
Electronic Devices & Storage Solutions
Toshiba Electronic Devices & Storage Corporation
NuFlareTechnology, Inc.
Digital Solutions
Toshiba Digital Solutions Corporation
Toshiba America, Inc.
Toshiba Europe Ltd.
Toshiba Asia Pacific Pte. Ltd.
Toshiba (China) Co., Ltd.
President
CEO
TOSHIBA CORPORATION
Board of
Directors
Sustainability
Businesses
Data Section
Business Results
Strategies
Data Section
Data Section
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Toshiba Integrated Report 2024
Toshiba Corporation
1-1, Shibaura 1-chome, Minato-ku, Tokyo, Japan (headquarters)
Founded
July 1875
Common Stock
¥201,449 million
Number of Employees
Approx. 105,000 (consolidated)
Fiscal Year
April 1 to March 31
This report has not been audited by our independent auditor.
Forward-looking statements
This report contains forward-looking statements concerning future plans, strategies and the
performance of Toshiba Group. These forward-looking statements are not historical facts, rather they
are based on management’s assumptions and beliefs in light of the economic, financial and other data
currently available. Since Toshiba Group promotes business in various market environments in many
countries and regions, its activities are subject to a number of risks and uncertainties that,without
limitation, relate to economic conditions, worldwide mega-competition in the electronics business,
customer demand, foreign currency exchange rates, tax rules, regulations and other factors. Toshiba
therefore wishes to caution readers that actual results might differ materially from its expectations.
Regarding items reported in this report
Any corrections made to this report will be published on our website, as referenced above.
Product names may be trademarks of the respective companies.
This report has been prepared for the purposes of providing information and does not constitute an
offer to sell or a solicitation of an offer to buy any security of Toshiba, its subsidiaries or any other
company in Japan, the United States or any other jurisdiction.
Corporate Data (As of March 31, 2024)
Corporate History
July
1875
A shop-cum-factory (called Tanaka Seizo-sho from 1882; later Shibaura Engineering Works Co., Ltd.) opened in Tokyo.
Apr.
1890
Hakunetsu-sha & Co., Ltd. (from 1899 Tokyo Electric Company) founded.
Jan.
1896
Tokyo Hakunetsu Dentokyu Seizo Co., Ltd. established (Renamed Tokyo Electric Co, Ltd. in 1899)
June 1904
Shibaura Engineering Works Co., Ltd. established.
Sept. 1939
Shibaura Engineering Works Co., Ltd. merged with Tokyo Electric Company to become Tokyo Shibaura Electric Co., Ltd.
Oct.
1942
Absorbed Shibaura Mazda Industry Co., Ltd. and Nippon Medical Electric Co., Ltd., expanding home appliance line-up.
July
1943
Absorbed Tokyo Electric Co., Ltd. and Toyo Fire Brick Co., Ltd., expanding line-up of communications equipment.
Feb.
1950
Under the Law on Elimination of Excessive Concentration of Economic Power, a group of 14 companies, including Tokyo Electric
Appliances Co., Ltd., now Toshiba TEC Corp., was separated from Tokyo Shibaura Electric Co., Ltd.
Apr.
Absorbed Toshiba Rolling Stock Co., Ltd., expanding rolling stock products.
Nov.
1955
Absorbed Dengyo-sha Prime Mover Works Ltd.
Nov.
1961
Absorbed lshikawajima-Shibaura Turbine Co., Ltd., expanding line-up of turbines.
Apr.
1984
Japanese official trade name changed to “Toshiba Corporation.”
Apr.
1999
Introduced in-house company system.
July
2001
Changed registered headquarters from Kawasaki City, Kanagawa, to Minato Ward, Tokyo.
June 2003
Adopted the Company with Committees (now, Company with a Nomination Committee, etc.) system.
Oct.
Transferred electric equipment for manufacturing plant business to TMA Electric Corp. (now Toshiba Mitsubishi-Electric Industrial
Systems Corp.).
Oct.
2006
Acquired Westinghouse Group.
Oct.
2009
Acquired HDD business from Fujitsu Ltd.
Oct.
2010
Merged mobile phone business with that of Fujitsu Ltd. and transferred it to Fujitsu Toshiba Mobile Communications Ltd.
(now FCNT LLC.).
July
2011
Acquired Landis+Gyr AG.
Mar.
2012
Transferred all shares of Toshiba Mobile Display Co., Ltd. to Japan Display Inc., a company established with co-funding by Innovation
Network Corporation of Japan (now Japan Investment Corporetion), Toshiba Corporation, Sony Corporation and Hitachi, Ltd.
Aug.
Toshiba TEC Corporation acquired the retail store solutions business of U.S.-based IBM (International Business Machines Corporation).
Mar.
2016
Sold off all shares of Toshiba Medical Systems Corporation (now Canon Medical Systems Coporation).
June
Sold off 80.1% shares of Toshiba Lifestyle Products & Services Corporation.
Mar.
2017
Westinghouse Group deconsolidated from Toshiba Group by Westinghouse Electric Company filing a voluntary petition for relief under
Chapter 11.
Apr.
Split off and transferred the memory business to formerly Toshiba Memory Corporation by means of a company split.
July
Split off and transferred the social infrastructure business to Toshiba Electric Service Corp. (now Toshiba Infrastructure Systems &
Solutions Corp.) by means of a company split.
Split off and transferred the electronic devices business to Toshiba Electric Devices & Storage Corp. by means of a company split.
Split off and transferred the ICT solutions business to Toshiba Solutions Corp. (now Toshiba Digital Solutions Corp.) by means of a
company split.
July
Sold off 100% shares of Landis+Gyr Group.
Oct.
Split off and transferred the energy business to Toshiba Energy Systems & Solutions Corp. by means of a company split.
Feb.
2018
Transferred 95% shares of Toshiba Visual Solutions Corporation (now TVS REGZA Corporetion) to China’s Hisense Group.
June
Transferred all shares of formerly Toshiba Memory Corporation.
Oct.
Transferred 80.1% shares of Toshiba Client Solutions Co., Ltd. (now Dynabook Inc.) to Sharp Corporation.
(Transferred 19.9% shares of Dynabook Inc. to Sharp Coporation in August 2020)
Aug.
2022
Transferred 55% of the outstanding shares of Toshiba Carrier Corporation to Global Comfort Solutions LLC.
Dec.
2023
Delisted from the Prime Market of the Tokyo Stock Exchange, Inc. and the Premier Market of the Nagoya Stock Exchange, Inc.
Sustainability
Businesses
Data Section
Business Results
Strategies
Data Section
Data Section
Toshiba Integrated Report 2024
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Toshiba Integrated Report 2024
This report aims to serve as an effective communication tool, providing stakeholders with a comprehensive understanding of the Toshiba
Group. It integrates financial and non-financial information, presenting our strategies and results in a cohesive manner.
The report aligns with the integrated reporting frameworks recommended by the International Integrated
Reporting Council and the Guidance for Collaborative Value Creation issued by Japan’s Ministry of Economy,
Trade and Industry.
Reporting period: April 1, 2023–March 31, 2024, with some information extending beyond April 2024.
Reporting scope: Toshiba Corporation and Toshiba Group.
For more detailed financial and non-financial information, please visit our website.
Cyber Security Report
Integrated Report
Sustainability Report
Sustainability website
Editorial Policy
Financial and non-financial information
Financial information
Non-financial information
Details of cyber security enhancement activities
Reports
Website
Sources of timely information.
Overview of cyber security activities
Financial reports (main), non-financial
outlines
Sustainability achievements and initiatives
Sustainability infomation
Financial Information Page
Financial information
Sustainability
Businesses
Data Section
Business Results
Strategies
Data Section
Data Section
Toshiba Integrated Report 2024
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Toshiba Integrated Report 2024
Issued in March 2025, translated from the original Japanese edition published in February 2025.