Toshiba Schneider Inverter Corporation was formed as a Japanese company under the wings of Schneider Toshiba Inverter Corporation that is a joint venture in the industrial inverter field bringing together Toshiba and Schneider Electric in France to operate the Inverter Business in a global scale. The newly formed company has taken over the inverter business formerly handled by the Industrial Electronic Equipment Division of Toshiba Industrial Products Manufacturing Corporation. The new company will perform product planning, development, design. procurement and manufacture and supply industrial inverters on a global scale in cooperation with the simultaneously founded French venture; Schneider Toshiba Inverter(Europe)Corporation the American company to be established next year and the parent company.