Toshiba said it did not discuss the acquisition of Westinghouse shares with GE

After to $5 billion 400 million acquisition of Westinghouse Electric heavily, Toshiba Co (ToshibaCorp., 6502.TO) president and CEO Nishida Atsushi (AtsutoshiNishida) recently revealed, including Mitsui, Marubeni, MITSUBISHI heavy industries and other Japanese companies, now has five to six U.S. companies expressed interest in the acquisition of shares of the Westing House Electric Corporation. However, the company did not negotiate with the GE company on the acquisition of equity. Nishida Atsushi said the company holds the highest proportion of Westinghouse Electric compared to 52%~53%. In addition, the company has developed a detailed nuclear power development plan to be 12 to 15 years to recover the cost of investment.

Nishida Atsushi said, there is no in financing the acquisition of Westinghouse's funds to make any decision whether the issuance of new shares to raise; Toshiba has not made any decision, but he ruled out the possibility of raising funds from the financial market in.

He said that after the completion of the acquisition, Westinghouse's business development will help to increase its nuclear power business turnover. 2005, Toshiba Co's nuclear energy income of less than 200 billion yen in 2015 will increase to reach 600 billion to 700 billion yen.

Toshiba Co to seek the main reason for the acquisition of Westinghouse, is hoping to reduce the company's dependence on the semiconductor industry and consumer electronics products. At present, half of the company's profits come from the semiconductor industry, but the chip price fluctuations make the company often change earnings.

Toshiba Co 2005 fiscal year third quarter earnings report, its sales of $1 trillion and 583 billion 100 million, an increase of 16% over the previous fiscal year. Toshiba's fiscal year 2005 results for the forecast of 6 trillion and 300 billion yen, operating profit was estimated at $210 billion.