Daily Management Review

Toshiba receives $ 1.3 billion of net loss in 2019-2020


Net loss of the Japanese electronic giant Toshiba Corporation for the first nine months of the financial year 2019-2020 (ended December 31) amounted to 145.63 billion yen (1.33 billion dollars); a year ago the company made a profit of 1.02 trillion yen ( 9.3 billion dollars), the company said in a statement.

FuFu Wolf via flickr
FuFu Wolf via flickr
Loss per share was 294.6 yen ($ 2.68) versus profit of 1,603.62 yen ($ 14.6) in the same period a year earlier. The company's operating profit amounted to 62.5 billion yen (569.5 million dollars), which is 7.6 times more in annual terms. Sales revenue fell 7% to 2.458 trillion yen ($ 22.4 billion).

In the third quarter, the company received a net loss of 480 million yen ($ 4 million), which is significantly less than the loss of the previous year of 60.5 billion yen ($ 551 million). Revenue from sales decreased by 14%, to 747.18 billion yen ($6.8 billion).

The company predicts revenue for the fiscal year 2019-2020 at 3.4 trillion yen ($ 31 billion), and operating profit - at 140 billion yen ($ 1.28 billion). This forecast remained unchanged compared to what the company expected in November.

Toshiba Corporation is Japan's largest manufacturer of computer memory cards. The company, founded in 1875 in Tokyo, specializes in the production of ultra-precise electronics and electrical engineering, integrated circuits, industrial computers, cell phones, LCD TVs, elevators.

source: bloomberg.com