【正文】 00 () Source: literature research SEC China010821BJToshiba 資料庫下載 TOSHIBA IS STRONG IN EDUCATION, LARGE AND MEDIUM BUSINESS, BUT PARTICULARLY WEAK IN GOVERNMENT Source: IDC 1 7 . 83 1 . 42 3 . 52 8 . 82 7 . 42 2 . 28 . 41 0 . 98 . 44 . 85 . 5Small office Home 100% = Toshiba Market average 73 484 Education Government Large business Small business Medium business Sales by customer segments Percent of units shipment (000s), 2000 SEC China010821BJToshiba 資料庫下載 TOSHIBA IS GENERALLY A MEDIUM TO HIGHEND PLAYER, PARTICULARLY STRONG IN USD PRICE BRAND Source: IDC 4 8 . 82 2 . 71 2 . 1 1 0 . 41 1 . 15 6 . 51 3 . 32 4 . 51 6 . 1 1 0 . 41 7 . 92 4 . 21 2 . 21 3 . 57 . 19 . 23 . 89 . 81 3 . 96 . 62 6 . 62 0 . 2 Low (02k) Medium () High () 100% = Premium () Toshiba39。D Manufacturing Marketing amp。D ?Dalian Toshiba is responsible for TV production. 30% parts e from China ?Dalian Toshiba and its 4 subsidiaries in Dalian, Beijing, Shanghai and Guangzhou are responsible for marketing and sales ?Dalian Toshiba primarily uses sales forces in its four subsidiaries to sell TV products directly to retailers. It also uses distributors in certain regions such as Chongqing. ? Toshiba (China) helped set up the aftersales service work, and Dalian Toshiba is running the work and responsible for PNL. Digital media Digital Media Network Co. Dalian Toshiba TV Co. TOSHIBA CHINA TV BUSINESS HAS A PRODUCT LINE ORIENTED VALUE DELIVERY SYSTEM SEC China010821BJToshiba 資料庫下載 DALIAN TOSHIBA’S TV DISTRIBUTION CHANNEL Source: McKinsey Literature Search, external interviews, McKinsey analysis Dalian Toshiba TV Co. Manufacturing Plant Dalian Subsidiary Beijing Subsidiary Shanghai Subsidiary Guangzhou Subsidiary Distributors Retailers: Hyper/supermarket: 10% Designated Stores: 25% Dept. Stores: 30% Specialty Stores: 35% Consumers Subsidiary Sales Force 70% 30% SEC China010821BJToshiba 資料庫下載 TOSHIBA ADOPTS THE NATIONAL CHIEFDISTRIBUTOR PRACTICE IN NOTEBOOK BUSNIESS IN CHINA Ramp。D ? Toshiba SH ? OEM: Renbao, a Taiwanese OEM player ? Digital China ? Digital China (for Toshiba notebook only) ? Toshiba ? Digital China – Centralize key accounts across different products – Centralize SI for key accounts (banking, tax) – Be in charge of channel develop ment and management ? Digital China – Major responsibility ? Toshiba SH factory – Parts39。D BASE * The other two Ramp。D –First layer focusing on technology trends in the next 35 years –Second layer focusing on multimedia technology and technology trends in the next 23 years –Third layer focusing on product development ? Toshiba Ramp。D department in Beijing, April 2001 –Plan to develop it into Toshiba (China) Ramp。D center of Toshiba –Plan to have 250 people this year and expand to 500 people in Ramp。D SEC China010821BJToshiba 資料庫下載 TOSHIBA HAS OUTSOURCED THE MAJOR PART OF NOTEBOOK MANUFACTURING AND ITS DISTRIBUTOR IS CAPABLE OF CUSTOMIZATION IN CONFIGURATION Source: Literature research, interview Manufacturing Parties involved Responsibilities Toshiba SH ? Assembling production to cover total volume sold in China ? Assembling production for expert OEM (Renbao) ? Major part of notebook manufacturing Digital China ? Customization for bigbatch order according to customers39。 CEO Corporate project Corporate staff Corporate support services iValue Creation Company eSolutions Company Social Infrastructure Systems Company Digital Media Network Company Mobile Communications Company Power Systems amp。 Components Company Medical Systems Company Home Appliances Company Japan Foreign Country Dalian Toshiba TV, Ltd Other JV Other Subsidiaries Japan Foreign Country SEC China010821BJToshiba 資料庫下載 TOSHIBA’S MAJOR SHAREHOLDERS Source: Toshiba website (As of September 30,2000) Entity Percent Outstanding The Dai – ichi Mutual Life Insurance Company The Sakura Bank,Ltd. Nippon Life Insurance Company State Street Bank and Trust Company The Chase Manhattan Bank NA London The Sumitomo Trust and Banking Co.,Ltd. Employees Stock Ownership Plan The Mitsubishi Trust and Banking Corporation Mitsui Mutual Life Insurance Company The Nippon Fire amp。D EXPENDITURES Overseas Sales (￥ billion) Ramp。 D Expenditures Percentage of Net Sales SEC China010821BJToshiba 資料庫下載 TOSHIBA’S HISTORICAL REVENUES AND PROFITS Net Sales 5 , 5 2 25 , 4 5 8 5 , 9 5 15 , 7 4 95 , 3 0 1CAGR = % 1997 1998 1999 2000 2001 Net Ine 67159 3 396CAGR = % * Source: Toshiba 2001 Annual Report, Lit search Yen billion 1997 1998 1999 2000 2001 SEC China010821BJToshiba 資料庫下載 IN 2000, DALIAN TOSHIBA’S UNIT SALES IN CHINA WAS 7% OF CHANGHONG’S UNIT SALES, BUT DALIAN TOSHIBA’S GROSS PROFIT IN CHINA WAS 89% OF CHANGHONG’S GROSS PROFIT Unit Sales thousand Dalian Toshiba Changhong Source: 21st Century Economic report, March 19, 2001 Gross Profit billion RMB 1 . 01 . 15007 , 5 0 0Dalian Toshiba Changhong SEC China010821BJToshiba 資料庫下載 DESPITE OF STRONG GROWTH OF TOTAL MARKET, TOSHIBA NOTEBOOK HAS EXPERIENCED STAGNANT GROWTH OF % ANNUALLY Notebook revenue (RMB billions) Source: IDC Toshiba in China 1999 2000 1998 9800 CAGR Percent Total China market 1999 2000 1998 9800 CAGR Percent