Highlights

Toshiba net profit up on chip business sale

 Publish date: Mon, 13 May 2019, 2:24 PM

TOKYO: Struggling Japanese engineering firm Toshiba on Monday reported improved full-year net profit thanks to the sale of its chip business, but said operating profit was sharply down.
 
In the year that ended March, Toshiba’s net profit jumped 26.0 per cent to 1.01 trillion yen (US$9 billion), chiefly because of “profit from completion of the sale of the Memory business,” it said in a statement.
 
Toshiba “achieved a healthier financial condition by closing the sale of the Memory business, advancing structural reforms that included finalising the sale of the PC business and decided to withdraw from a nuclear power construction project in the UK,” the company said.
 
But the firm said its operating profit dropped 58.9 per cent to 35.4 billion yen, partly due to restructuring costs, on sales of 3.69 trillion yen, down 6.4 per cent.
 
For the current year to March 2020, it forecast a jump of 295 percent in operating profit to 140 billion yen, after the completion of restructuring and other projects, on sales of 3.4 trillion yen.
 
It did not provide net profit forecast, saying it did not have sufficient information on the chip business – which remains an affiliate.
 
The Tokyo-based company used to sell everything from rice cookers to nuclear plants and has long been a household name.
 
But a series of scandals and business losses in recent years have forced the company to withdraw from many operations, such as appliances and personal computers that gave it brand recognition.
 
To stay afloat, the cash-strapped group sold its lucrative chip business for $21 billion to K.K. Pangea, a special-purpose company controlled by a consortium led by US investor Bain Capital. 
 
 - AFP
 

 

Share this

  Be the first to like this.
 


 

299  359  495  758 

ActiveGainersLosers
Top 10 Active Counters
 NameLastChange 
 VC-PA 0.0750.00 
 LAMBO 0.07+0.005 
 LAMBO-WB 0.010.00 
 IMPIANA 0.045+0.005 
 HSI-C5G 0.16-0.025 
 EKOVEST 0.835+0.005 
 VC 0.305+0.02 
 HSI-H6G 0.305+0.07 
 PWORTH 0.07+0.005 
 EKOVEST-WB 0.345+0.005 

TOP ARTICLES

1. UNDERLOOKED BENEFICIARY OF GOVT INFRA SPENDING (ECRL, BDR MSIA, etc) !!! Bursa Master
2. Dayang: Puzzle is Clearer - Koon Yew Yin Koon Yew Yin's Blog
3. Dayang, how will its share price move next week? kcchongnz kcchongnz blog
4. TCapital Group - 冷眼 - 30年投资经验总结的18条真谛 TCapital Group ( 冷眼慢慢投资 )
5. Dr M can restore economy in two years, says Anwar save malaysia!!!
6. Is paying dividend important? Sslee blog
7. CIMB is a must short company in KLCI/aka short MYR CIMB is a must short company in KLCI/aka short MYR
8. [转贴] [COCOALAND HOLDINGS BHD:自2019年4月1日开始以含饮料包装的形式对含糖饮料制造征收40仙/升的含糖税被视为影响集团饮料业务的另一项发展] - James的股票投资James Share Investing James的股票投资James Share Investing
Partners & Brokers