Toshiba TEC Reports First-Half Financial Results

Bucking the trend of lower revenues and profits recently reported by many Japanese office-imaging companies, Toshiba TEC of Tokyo, Japan, today reported generally upbeat financial results, with the company stating it recorded record operating profits and profits.

Toshiba TEC reported  that for the six months that ended on September 30, 2019 (the first half of its fiscal year), net sales were ¥249.9 billion, up 5.9 percent year-over-year; operating profit was ¥10.2 billion, up 41.6 percent year-over-year; and profits were ¥7.9 billion up 83.2 percent year-over-year.

The company’s Printing Solutions Group’s six-month financial results were virtually flat, with the group reporting net sales of ¥94.0 billion, down ¥0.7 billion year-over-year, and operating profit of ¥1.8 billion, down 0.2 billion year-over-year.

Toshiba TEC’s other business group, Retail Solutions, reported net sales of ¥159.9 billion, versus ¥145.5 billion for the same period a year earlier, and operating profit of ¥8.4 billion, versus ¥5.2 billion for the same period a year earlier.

Forecast

For its fiscal year that will end in March 2020, Toshiba TEC maintained its May 2019 forecast, forecasting net sales of ¥480.0 billion, versus ¥476.8 billion for the previous fiscal year; operating profit of ¥20.0 billion, versus ¥18.0 billion for the previous fiscal year; and profits of ¥12.0 billion, versus 11.2 billion for the previous fiscal year.

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