Toshiba Reports Strong Profits for Second Half

On November 13th, Toshiba Corporation of Tokyo, Japan, reported its highest quarterly profit in two years, with its energy and infrastructure divisions driving the  profit increase, as well as continued cost cutting.

For its the first half (April to September 30, 2019) of its fiscal year, Toshiba reported net sales of ¥1.7 billion, down 4.0 percent year-over-year, and a loss of ¥145.1 billion. However, it reported a very positive shift in operating income, which totaled ¥52.1 billion for the half, versus ¥7.0 for the same period a year earlier.

Toshiba’s Retail & Printing Solutions, Digital Solutions group reported net sales of ¥252.7 billion, up 11.7 percent year-over-year, and operating income of ¥10.4 billion, up 0.8 percent year-over-year.

Second Quarter

For the second quarter that ended on September 30, 2019, Toshiba reported net sales of ¥898.2 billion, down 4 percent year-over-year. and a loss of ¥4.9 billion ($45.54 million). Operating income for the quarter was ¥17.54 billion ($162.36 million), versus ¥42.15 billion yen for the same quarter a year earlier.

Toshiba also said it would seek to take full control of Toshiba TEC; engineering firm Toshiba Plant Systems & Services; marine electrical systems maker Nishishiba Electric; and chip-making equipment maker NuFlare Technology. Taking over these business groups would cost a total of ¥200 billion ($1.83 billion).

Forecast

Toshiba maintained its profit forecast for its fiscal year the will end in March 2020, forecasting ¥140 billion yen in operating income, versus the ¥35.4 billion yen it reported for its previous fiscal year.

Toshiba’s complete presentation is available here.

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