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Toshiba net profit for April-December decreased by 27 percent

The net profit of the Japanese electronics giant Toshiba Corporation in the first nine months of the 2022-2023 financial year (ended December 31) amounted to 84.011 billion yen (about $638 million at the current exchange rate), having decreased by 27% in annual terms, the company said in a statement.

Diluted earnings per share were 194.18 yen ($1.47) after 258.52 yen ($1.96) in the same period a year earlier. The operating profit of the company amounted to 8.063 billion yen (61.25 million dollars), which is about 10 times less in annual terms. Sales revenue increased 0.6% to 2.37 trillion yen ($18 billion).

According to the results of the third quarter, that is, the last calendar quarter, the company received a net loss of 16.65 billion yen (126.5 million dollars) after a profit of 55.124 billion yen (419 million dollars) a year earlier. Operating profit fell 1.9 times to 5.325 billion yen (404.6 million dollars). Sales revenue fell 4.2% to 774.938 billion yen ($5.9 billion).

For the full fiscal year, the company forecasts revenue of 3.32 trillion yen ($25.2 billion). Operating profit is expected at 95 billion yen (721.7 million dollars).

Toshiba Corporation, founded in 1875 in Tokyo, specializes in the production of ultra-precise electronics and electrical engineering, integrated circuits, industrial computers, cell phones, LCD TVs, and elevators. The company’s staff exceeds 108.8 thousand people. In November, 2021 Toshiba announced intention to be divided into three companies which will be responsible for infrastructure solutions, electronic devices and to own shares in other corporations. However, in March 2022, the shareholders voted against the division of the corporation.

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