A significant presence in a broad range of electronics markets in Japan. Technological strengths and long-standing relationships with customers, especially in the domestic market. Vulnerability to earnings fluctuations in the electronic devices and digital media businesses. Continuing weakness in the company's financial profile, despite some improvement in the fiscal year ended March 2003. The rating on Toshiba Corp. reflects the company's significant presence in a broad range of electronics markets in Japan, such as information and communication systems, social infrastructure systems, medical equipment, digital products, and electronic devices. The rating also reflects the company's technological strength and long-standing relationships with customers. These strengths are offset by the vulnerability of Toshiba's overall profitability to earnings fluctuations in electronic devices and digital
