Toshiba: Won Two Railway Car Equipment Orders In US Worth Up To Y30 Billion

Toshiba Corp. (6502.TO) said Thursday it has won two orders worth a total of up to Y30 billion to supply electrical equipment and systems for railway passenger cars in Washington D.C. and Chicago.

The U.S. unit of Kawasaki Heavy Industries Ltd. (7012.TO) will supply rolling stock to the local transit authority in Washington D.C., while the U.S. unit of Nippon Sharyo Ltd. (7102.TO) is supplying rolling stock for the Chicago project. Toshiba will supply electrical equipment and systems for both projects.

The delivery for the D.C. project will begin in January 2012, while delivery for the Chicago project will start this October, Toshiba said.

Toshiba is ramping up its efforts to increase its overseas presence in railway-related operations. The Japanese technology giant generated about Y100 billion in revenue from its transport system business in the last fiscal year, and overseas sales accounted for about 40% of that revenue. The company aims to more than double the segment's revenue to over Y200 billion in the fiscal year through March 2016, with overseas sales taking up 70%.

-By Juro Osawa, Dow Jones Newswires; 813 6269 2794; [e-mail]