Toshiba Reports Results for Fiscal Year
Toshiba Corporation of Japan reported results for its fiscal year that ended on March 31, 2018, reporting a profit versus a loss for its previous fiscal year, and avoiding de-listing from the Tokyo Stock Exchange.
Toshiba reported a record net profit of 804.0 billion yen ($7.3 billion), compared with a loss of 965.7 billion yen for its previous fiscal year, marking its first profit for in four years.
Sales, however, declined 2.4 percent to 3.95 trillion yen, and operating profit declined 21.9 percent to 64.1 billion yen.
Toshiba’s memory-chip business brought in about 90 percent of Toshiba’s operating profit for the first six months of its fiscal year. The company still intends to sell its memory-chip business to a consortium led by private-equity firm Bain Capital, but is waiting for regulators in China to approve the deal.
Toshiba is forecasting a net profit of 1.07 trillion yen for its current fiscal year that will end in March 2019, up 33.1 percent versus the previous year, and sales of 3.6 trillion yen.
- May 2018: Stellar Fiscal Year for Toshiba TEC
- April 2018: Toshiba Completes Sale of Westinghouse to Brookfield
- March 2018: Sale of Toshiba’s Memory Business Delayed
- January 2018: Toshiba Finds Buyer for Westinghouse Nuclear-Power Business
- November 2017: Toshiba Seeking to Sell TV Business to Chinese Company for $114 Million
- November 2017: Toshiba Reports Loss for Half, but Memory Business Records Strong Performance
- October 2017: Toshiba Revises Forecast, Expects Net Loss of Almost $1 Billion
- September 2017: Western Digital Seeks Injunction to Stop Sale of Toshiba’s Memory Business
- September 2017: Toshiba Says it Will Sell Memory Business to Consortium Led by Bain Capital
- August 2017: Troubled Toshiba Said to be Close to Selling Memory-Chip Business (Updated)
- August 2017: Toshiba Reports $8.8 Billion Loss for Fiscal Year