UPDATE 1-Toshiba may hit nuclear power rev target earlier-Nikkei

Dec 21 (BestGrowthStock) – Toshiba Corp (6502.T: ) may log 1 trillion
yen ($11.94 billion) in sales from its nuclear power business
by fiscal 2013, instead of fiscal 2015, due to a growing demand
in emerging markets and the United States, its President Norio
Sasaki told The Nikkei in an interview.

After acquiring major U.S. nuclear power firm Westinghouse
Electric Co, Toshiba had set a target to receive orders for 39
nuclear reactors from fiscal 2006 through fiscal 2015, the
daily said.
“We’ll continue promotional activities with an aim to top this
target,” The Nikkei said quoting Sasaki.

With demand for nuclear power growing in emerging markets,
Toshiba has stepped up efforts to propose projects in China,
Vietnam, Turkey and Saudi Arabia, the business daily said.

Despite concerns of a slowdown in nuclear plant
construction in the U.S. due to the nation’s fiscal problems,
Sasaki said the country is still promoting the use of nuclear
power, the daily said.

Toshiba’s projects have high priority in receiving U.S.
government guarantees for nuclear plant construction, the
newspaper quoted Sasaki as saying.

According to Sasaki, Westinghouse’s sales are growing by 20
percent a year in dollar terms, with operating profit margin
for Toshiba’s overall nuclear power business, including the
U.S. subsidiary, likely to hit 10 percent as early as fiscal
2013, the Nikkei reported.
($1=83.77 Yen)
(Reporting by Divya Sharma in Bangalore; Editing by Roshni

UPDATE 1-Toshiba may hit nuclear power rev target earlier-Nikkei