Bucking Trend, Toshiba TEC Posts Upbeat Financial Results

Bucking the trend of recent weaker financial results among Japanese imaging vendors, on November 6th, Toshiba TEC of Tokyo, Japan, posted upbeat financial results for the first half (April to September) of its fiscal year. The firm reported net sales of ¥249.9 billion, up 5.9 percent year-over-year; operating profit of ¥10.1 billion, up 41.6 percent year-over-year; and profits  of ¥7.8 billion, up 83.2 percent year-over-year.

According to the firm, these profits reached record highs, and profits increased significantly for its retail solutions business, with both sales and operating profits both up for this group.

Toshiba TEC’s other business group, Printing Solutions, reported net sales of ¥94.0 billion for the first half, up ¥0.7 billion year-over-year, and operating profit of ¥1.8 billion, which however was down ¥0.2 billion year-over-year.

Forecast

For its complete fiscal year that will end on March 31, 2020, Toshiba TEC maintained its May 2018 forecast. It’s forecasting net sales of ¥0.7 billion, up 0.7 percent year-over-year; operating profit of ¥20 billion, up 11.2 percent year-over-year; and profits of ¥12.0 billion, up 7.0 percent year-over-year.

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