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.
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.
- February 2020: Sales, Profits Up for Toshiba TEC
- November 2019: Toshiba Reports Strong Profits for Second Half
- November 2019: Toshiba TEC Reports First-Half Financial Results
- August 2019: Toshiba Reports Loss for First Quarter
- August 2019: Sales Slow at Toshiba Tec, but Profits Up