Toshiba acquired 100 per cent stake in UEM in March 2018.
Toshiba currently expects an annual net profit of 145 billion yen, up 45 percent from an earlier estimate, on sales of 5.4 trillion yen.
New Delhi: Toshiba Group on Tuesday said the name of its wholly-owned subsidiary UEM India has been changed to Toshiba Water Solutions.
"Now with the formal adoption of Toshiba name, the company will have access to wider customer base in India and overseas, while reiterating the Japanese quality and commitment that Toshiba name carries," Toshiba Water Solutions Chairman and MD Koichi Matsui said.
Toshiba acquired 100 per cent stake in UEM in March 2018. Current shareholding in UEM is shared between Toshiba Corporation (56.11 per cent) and Toshiba Infrastructure Systems & Solutions Corporation (43.89 per cent).
The new name is effective from February 12, 2019 and will be implemented across the company's product and services, a statement said.
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