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Toshiba Tec Reports Latest Financial Results

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Toshiba Tec of Tokyo, Japan, today reported results for the nine-month period ending December 31, 2020.

Net sales were ¥293.9 billion, down 19.7 percent year-over-year, and operating profit was ¥3.1 billion, down 76.1 percent year-over-year. Toshiba Tec reported a loss of ¥3.3 billion for the nine-month period, versus profits of ¥10.4 billion for the same period a year earlier.

Earnings per share (EPS) were a loss of 61.35, versus EPS of 189.31 for the same period a year earlier.

Third-quarter net sales were ¥185.9 billion, an improvement versus the second-quarter’s net sales of ¥108 billion.

Similarly, nine-month net sales were an improvement versus the six months ending September 30, 2020. For the six-month period, net sales were ¥191.7 billion, down 23.2 percent year-over-year,  versus third-quarter net sales that were down 19.7 percent year-over-year.

Forecast

For its complete fiscal year that will end on March 31, 2021, Toshiba Tec is forecasting net sales of ¥400 billion, down 17.3 percent year-over-year; operating profit of ¥10 billion, down 28.5 percent year-over-year; and profits of ¥500 million, down 86.6 percent year-over-year.

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