Toshiba plans multibillion-peso expansion in Phl

Japan’s Toshiba Corp. plans to invest billions of pesos over the next three years to expand its hard disk drive production capacity in the Philippines, a move expected to generate around 3,000 jobs and strengthen the country’s role in the global technology supply chain.

The Department of Finance (DOF) said the planned investment was discussed during a meeting between Finance Secretary Frederick Go and Toshiba officials led by Koji Ikeya, chief operating officer and senior executive vice president.

Ikeya presented the company’s plans to increase production of nearline hard disk drives (NL-HDDs), which provide high-capacity data storage for data centers and other applications requiring large volumes of information.

Demand for these storage devices is growing alongside the expansion of cloud computing, artificial intelligence and other data-intensive digital services.

The planned expansion builds on Toshiba’s more than three decades of manufacturing operations in the Philippines, which serves as a major production base for its global hard disk drive business.

Go said the investment could help the country capture a larger share of the growing global data storage market while expanding its advanced electronics manufacturing capabilities.

The finance chief added that the project could strengthen the local industrial ecosystem and create quality employment opportunities for Filipinos.

The DOF and representatives of the Philippine Economic Zone Authority (PEZA) assured Toshiba of the government’s support in facilitating the investment and maintaining an environment conducive to long-term manufacturing operations.

Go also cited reforms, including the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act, as part of the administration’s efforts to attract long-term investments.

Toshiba established Toshiba Information Equipment (Philippines) Inc. at Laguna Technopark in 1995 and began operations in 1996. It currently operates two major manufacturing facilities in Laguna, including a second site at Carmelray Industrial Park 1 in Calamba.

Ikeya reaffirmed the company’s commitment to expanding its Philippine operations, citing the skills of its Filipino workforce and its long-standing partnership with the government. TRACY CABRERA