Toshiba Tec Corporation (The Company) announced that at the Board of Directors meeting held on 26 March 2025, a resolution was passed to start a structural reforms’ project aimed at achieving sustainable growth of the overseas Retail Solutions business.
The Company and its subsidiaries (The Group) have been pursuing the Basic Policy of the FY24-26 Mid-term Business Plan, “To become a global top solutions partner by generating new value through co-creation with the aim of contributing to the resolution of social issues.” Under the basic policy, the Group has striven to strengthen the profitability of core businesses, expand new business areas, transform management, enhance human resources, and promote sustainability, etc. toward sustainable growth.
As a specific measure for the sustainable growth, Toshiba Tec said it aims to achieve sustainable growth in all regions by reviewing loss-making businesses through structural reforms’ project in the overseas Retail Solutions business.
To achieve sustainable growth, the goal would be to optimise the organisation in the European region, The Company said.
Toshiba Tec added: “Specifically, we contemplate outsourcing some operations and reducing approximately 120 workforces in the European region. Additionally, we contemplate consolidating back-office functions that are currently dispersed across Europe to improve operational efficiency and make effective use of human resources.”
The cost of business structural reforms associated with these contemplated measures is expected to be approximately ¥2 billion ($13.26 million/ €12.31 million) in FY24. Toshiba Tec added that these contemplated measures will be implemented in compliance with local labour laws, rules, and regulations, including decisions made after consultation with local employee representatives.
By carrying out this structural reforms’ project, Toshiba Tec expects to reduce fixed costs by approximately ¥1.5 billion ($9.94 million/ €9.23 million) per year from FY26 onwards.
