Moody’s assigns Baa2 rating to Toshiba’s domestic unsecured bond JPY20 billion of debt affected

Tokyo, September 03, 2009 -- Moody's Investors Service has assigned a Baa2
rating to Toshiba Corporation's (Toshiba) Series 47 JPY 20 billion senior
unsecured domestic straight bond, due 2013. The rating outlook is
negative.

The rating reflects Toshiba's strong presence in the electronics industry,
with a diversified customer base and wide range of products, ranging
from PCs, mobile phones and HDD drives to NAND-type flash memories,
power generation systems and medical devices. The rating also takes into
account the company's high leverage level, and the volatile nature of the
electronic devices business which is one of the company's major business
segments.

The negative rating outlook indicates uncertainty over whether Toshiba
can implement -- on a timely and effective basis -- its business and
financial strategies against the backdrop of unpredictable operating
environments.

The last rating action for Toshiba was on April 27, 2009, when Moody's
downgraded the company's long-term debt ratings to Baa2 from Baa1 and
outlook was negative. The Prime-2 short-term ratings of Toshiba and its
supported subsidiaries were confirmed at that time.

The principal methodology used in rating Toshiba is the "Global
Manufacturing Industry," December 2007, which can be found at
www.moodys.com in the Credit Policy & Methodologies directory, in the
Ratings Methodologies subdirectory. Other methodologies and factors that
may have been considered in the process of rating this issuer can also
be found in the Credit Policy & Methodologies directory.

Toshiba Corporation, headquartered in Tokyo, is one of Japan's leading
integrated electronics companies.

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