TOKYO (Standard&Poor's) May 19, 2011--Standard&Poor's Ratings Services said today its ratings on Toshiba Corp. (BBB/Stable/A-2) are unaffected by the company's announcement that it will acquire Switzerland-based company Landis+Gyr AG (NR), a leading smart grid-related company, for ¥190 billion. While details remain unclear, such as any partners in the deal and how it will be funded, Standard&Poor's believes the deal will make a relatively stable contribution to Toshiba's earnings in the medium to long term. We do not expect the acquisition to significantly increase Toshiba's financial burden. Landis+Gyr is the global leader in the production and sale of "smart" next-generation meters, the core component that enables smart grids to supply electricity efficiently. The company operates
