Toshiba Lowers Forecast for Full Fiscal Year

On February 13th, Toshiba Corporation of Tokyo, Japan, reported financial results for the nine months ending December 31, 2018, with net sales declining by 153.1 billion yen to 2,647.2 billion yen (U.S. $24,848.3 million).

Operating income was 8.2 billion yen (U.S. $73.9 million), a decline of 47.3 billion yen.

Net income was 1,021.6 billion yen (U.S. $9,203.8 million), an increase of 994.6 billion yen.

Retail and Printing Solutions Group

Net sales for Toshiba’s Retail and Printing Solutions group were 361.6 billion yen, down 5.5 percent year-over-year, while operating income for the group was 15.6 billion yen, down 3.2 percent year-over-year.

Forecast

Reflecting losses and additional costs stemming from its semiconductor manufacturing equipment and energy businesses, Toshiba revised its November 2018 full-year forecast for its complete fiscal year that will end on March 31, 2019. It’s now forecasting higher sales – 3,620.0 billion yen – but lowered its forecast for operating income to 20.0 billion yen. It also lowered its net income forecast to 870.0 billion yen.

Visit Toshiba here for a complete presentation of its financial results.

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