History (1995): Toshiba Sets up Wholly-Owned Subsidiary in Philippines

Following Fujitsu, Toshiba of Japan has decided to set up a wholly-owned subsidiary in the Philippines, Toshiba Information Equipment (Philippines) Inc.

Capitalized at ¥1.3 billion ($15 million), the subsidiary will begin operating in November and is expected to be completed by 1998.

1,400 jobs will be created and the plant hopes to reach an annual production of 1.8 million 2.5-inch HDDs, 3.6 million CD-ROM drives and 360,000 PC motherboards.

This article is an abstract of news published on the former paper version of Computer Data Storage Newsletter on issue 89, published on June 1995.