Stellar Fiscal Year for Toshiba TEC
On May 9th, Toshiba TEC of Tokyo, Japan, reported results for its fiscal year that ended on March 31, 2018, reporting the highest net income in the company’s history – or about twice that of the previous fiscal year.
Operating income and ordinary income “also increased significantly.” Due to its increased profitability, Toshiba TEC will increase its annual dividend by 30 percent compared to the previous forecast to 8 yen.
Net sales for the fiscal year were 513 billion yen, exceeding the firm’s forecast, and up 15.7 percent versus the previous fiscal year. Net income was 17.5 billion yen, also exceeding the firm’s forecast, and up 9.8 percent versus the previous fiscal year.
Printing Solutions Group
The Printing Solutions Group recorded net sales of 200 billion yen, up 10.8 percent versus the previous fiscal year. Operating income for the group was 7.3 billion yen, up 3.9 percent versus the previous fiscal year.
Retail Solutions Group
Toshiba TEC’s other business group, its Retail Solutions group, recorded net sales of 324.5 billion yen, up 3.7 percent versus the previous fiscal year, and operating income of 17.3 billion yen, up 6.0 percent versus the previous fiscal year.
For its current fiscal year that will end in March 2019, Toshiba TEC is forecasting net sales of 500 billion yen, down 13.3 percent versus the previous fiscal year, and net income of 8.0 billion yen, down 9.5 percent versus the previous fiscal year.
For its Printing Solutions group, it’s forecasting net sales of 209.0 billion yen, and operating income of 9.5 billion, up 2.2, with both versus the previous fiscal year.
Toshiba TEC is a subsidiary of Toshiba Corporation of Japan. Toshiba Business Solutions and Toshiba America Business Solutions are subsidiaries of Toshiba Tec.
- April 2018: Toshiba Refutes Recent Rumors Concerning Pending Sale of Memory-Chip Business
- April 2018: Toshiba Completes Sale of Westinghouse to Brookfield
- February 2018: Profit up Sharply for Toshiba TEC, but Profit Padding at Subsidiary Reported
- August 2017: Toshiba Reports $8.8 Billion Loss for Fiscal Year