Revised Forecast FY03

RNS Number:7971P
Toshiba Corporation
16 September 2003

FOR IMMEDIATE RELEASE

                                                              September 16, 2003

               Toshiba Issues Revised Business Forecasts for FY2003

TOKYO--Toshiba Corporation today issued revised consolidated and
non-consolidated business forecasts for the first half and full fiscal year to
March 31, 2004. The company also announced its intention to nullify its interim
dividend for the first half of the current fiscal term.

1. Consolidated forecast

Today's announcement revises downwards the forecast that Toshiba issued with the
announcement of its results for the last fiscal year, on April 25, 2003. The key
points are as in the table below.



(1)    1st Half FY2003 (Apr. 1st, 2003 - Sept. 30, 2003)       (Y billion)

                                           Net Sales     Income (Loss) Before       Net Income
                                                             Income Taxes and           (Loss)
                                                            Minority Interest

Original Forecast (A)                         2,640                       -10              -15

Revised Forecast (B)                          2,600                       -20              -25

     (B)-(A)                                    -40                       -10              -10

   1H/FY2002                                2,635.1                     -43.8            -26.4

(2)  FY2003 (Apr. 1st, 2003 - Mar. 31, 2004)                      (Y billion)

                                    Net Sales          Operating      Income (Loss)         Net Income
                                                          Income     Before  Income             (Loss)
                                                                          Taxes and            
                                                                  Minority Interest

Original Forecast (A)                   5,700                170                 90                 40

Revised Forecast (B)                    5,650                140                 90                 35

     (B)-(A)                              -50                -30                  -                 -5

     FY2002                           5,655.8              115.5               53.1               18.5

2. Non-consolidated forecast

Today's announcement revises downwards the forecast that Toshiba issued with the
announcement of its results for the last fiscal year, on April 25, 2003. The key
points are as in the table below.


(1)  1st Half, FY2003 (Apr. 1st, 2003 - Sept. 30, 2003)      (Y billion)

                                          Net Sales            Recurring          Net Income
                                                           Profit (Loss)              (Loss)

Original Forecast (A)                         1,520                    3                   0

Revised Forecast (B)                          1,460                  -15                   0

     (B)-(A)                                    -60                  -18                   -

    1H/FY2002                               1,554.9                -22.4                47.1

(2) FY2003 (Apr. 1st, 2003 - Mar. 31, 2004)              (Y billion)

                                          Net Sales            Recurring          Net Income
                                                           Profit (Loss)              (Loss)

Original Forecast (A)                         3,120                   70                  25

Revised Forecast (B)                          3,020                   40                  25

     (B)-(A)                                   -100                  -30                   0

     FY2002                                 3,408.2                 43.3                83.3


3. Reasons for revision

While Electronic Devices and Social Infrastructure segments are performing
favorably, this does not compensate for worsening results in the Digital
Products segment.

4. Planned Interim dividend for 1H/FY2003

In accordance with the revisions described above, the board of Toshiba today
decided the intention to nullify its interim dividend, as it did last year. The
dividend payment for the end of the current fiscal year, which was 3-yen per
share for the last fiscal year, is yet to be decided.

Forward looking statement:

This contains forward-looking statements concerning Toshiba's future plans,
strategies and performance. These forward-looking statements are not historical
facts, rather they represent assumptions and beliefs based on economic,
financial and competitive data currently available.  Furthermore, they are
subject to a number of risks and uncertainties that, without limitation, related
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 that actual results may
differ materially from our expectations.


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