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Toshiba Expects 63% of Energy Management Business From Overseas

Dec. 16 (Bloomberg) -- Toshiba Corp., Japan’s largest maker of nuclear power plants, expects 63 percent of sales from its energy management business to come from overseas by March 2016.

The company’s “smart community” energy management sales are projected to grow to 900 billion yen ($11.6 billion) in this period, Toshiba President Norio Sasaki told reporters in Tokyo today, maintaining an earlier projection. The smart community pilot projects in Japan and overseas include setting up charging infrastructure for electric vehicles and systems to help manage energy use in buildings.

Toshiba in July acquired a 60 percent stake in Swiss electronic-metering company Landis+Gyr AG and said it will spend a total of $1.6 billion for the shares and to assume debt. Landis+Gyr makes meters that allow utilities to check energy use remotely and can be connected to equipment that shows customers when rates are highest.

Sasaki said the investment in Landis+Gyr may be recovered in seven years, from the originally planned nine years.

To contact the reporter on this story: Chisaki Watanabe in Tokyo at cwatanabe5@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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