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## GROWTH POLICIES THAT MAKE TOSHIBA A WINNER 

Management innovation and maximization of management resources will support Toshiba as it promotes forward-looking reforms. Through this approach, we will reach a balance in our high-growth and stable-growth domains and take our place among other high-profit companies. 

## Vision and Direction 

Low growth around the world has gradual- ly given way to the current state of global stagnation. Seeking opportunity in adversi- ty, Toshiba has used its 01 Action Plan to promote concerted efforts to boost profit- ability and to improve its financial position. Launched in fiscal 2001, the Plan has fostered vigorous reforms in Toshiba’s business structure, achieved significant re- ductions in procurement and fixed costs, and supported an “asset-light” strategy that has trimmed property and other assets. 

## Major Business Domains 

Our recent mid-term business plan defines three key business domains. The digital 

products and electronic devices domains are both high-growth areas; the first as a source of the products of tomorrow, the second of the key technologies that help to realize them. In the social infrastructure do- main, we expect to see continued stable growth. Toshiba will promote expansion in all of these domains by channeling manage- ment resources into them, particularly the high-growth domains. 

## Goals for Fiscal 2005 

Our goal in digital products and electronic devices is clear: a top-three position in terms of sales in the world market in key product areas. We will achieve this through growth rates that surpass those of the mar- ket, with the expectation of achieving 

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