Toshiba Reports Loss for Nine-Month Period

Toshiba Corporation of Japan today reported a net loss of ¥145.63 billion ($1.32 billion) for its nine-month fiscal period, with the nine months ending on December 31, 2019, and Toshiba’s fiscal year ending on March 31, 2029. Toshiba had reported a profit of ¥1.02 trillion for the same period a year earlier.

According to Toshiba, the loss was due to the slow performance of its semiconductor business.

On the bright side, operating profit was up more than seven-times year-over-year to ¥62.52 billion, due in part to cost-cutting, but sales  totaled  ¥2.46 trillion, down 7.1 percent year-over-year.

For its Retail & Printing Solutions group, net sales were ¥371.1 billion, up 3 percent year-over-year, and operating profit was ¥14.3 billion, down 1.3 percent year-over-year.

Forecast

For its fiscal year that will end on March 31, 2020, Toshiba maintained its forecast for operating profit of  ¥140 billion, but reduced its sales forecast from ¥3.44 trillion to to ¥3.43 trillion. It’s also continuing to project a net loss of ¥152.0 billion.

For its Retail & Printing Solutions group, it’s project sales of ¥500.00 billion, up 14.6 percent versus the previous fiscal year, and up 10 percent versus its previous forecast.

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