Declining Sales, Profits for Toshiba TEC’s Fiscal Year

On May 10th, Toshiba TEC of Tokyo, Japan, reported results for its fiscal year that ended on March 31, 2019.

Net sales were ¥476.8 billion, down ¥36.5 billion versus the previous fiscal year; operating profit was ¥18.0 billion, down ¥6.6 billion versus the previous fiscal year; and profit attributable to the owners of the company was ¥11.2 billion, down ¥6.3 billion versus the previous fiscal year.

Toshiba TEC’s Printing Solutions Group’s results were a bright spot for the company. Net sales for the Printing Solutions Group were ¥192.9 billion, up ¥7.0 billion, while operating profit was ¥5.7 billion, up ¥1.6 billion, with both versus the previous fiscal year.

Forecast

For its current fiscal year that will end on March 31, 2020, Toshiba TEC is forecasting net sales of ¥480.0 billion, up ¥3.2 billion; operating profit of ¥20 billion, up ¥2.0 billion; and profit attributable to the owners of the company of ¥12.0, up ¥0.8 billion, with all versus the previous fiscal year.

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