Toshiba TEC Reports Lower Earnings, Revenue for First Half

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Toshiba TEC of Japan has reported results for the first half (April 1 to September 30, 2018) of its fiscal year that ends on March 31, 2019.

Net sales were down 7.1 percent to 236.1 billion, operating profit was down 3.2 percent to 7.2 billion yen, and profits were down 0.8 percent to 4.3 percent, all year-over-year.

Note that Toshiba TEC is a subsidiary of Toshiba Corporation of Japan. Toshiba Business Solutions and Toshiba America Business Solutions are subsidiaries of Toshiba TEC.

For Toshiba TEC’s Printing Solutions group, net sales were down 3.5 percent to 94.8 billion yen, and operating profit was down 2.2 percent to 2.0 billion yen, with both year-over-year.

Net sales for Toshiba TEC’s other business group, Retail Solutions, were down 3.5 percent to 94.8 billion yen, and operating profit was down 1.0 percent to 5.2 billion yen, with both year-over-year.

Forecast for Full Year

For its complete fiscal year that will end in March 2019, Toshiba Tec did not revise its May 2018 forecast, which forecasts net sales of 500.0 billion yen, down 13. 3 percent versus the previous fiscal year; operating profit of 18.0 billion yen, down 6.5 percent versus the previous fiscal year; and profits of 8.0 billion yen, down 17.5 percent versus the previous fiscal year.

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