Net Sales and profits increase for Toshiba Tec
August 7, 2023
The company has released its first quarter, fiscal 2023, results recording increase net sales and profits year-on-year.
In the 1st quarter (April-June), both Toshiba Tec’s Retail Solutions and Workplace Solutions businesses posted higher net sales year-on-year, and operating profit increased by ¥1.1 billion ($7.7 million/ €7 million), mainly due to a strong contribution by Workplace Solutions business, Toshiba Tec added.
Net sales for the reporting period were ¥122.4 billion ($860.1 million/ €783.7 million), a year-on-year increase of ¥13.1 billion ($92 million/ €84 million). Net sales in the Workplace Solutions Business segment were ¥54.5 billion ($383 million/ €349 million), a year-on-year increase of ¥7 billion ($49.2 million/ €44.8 million).
Toshiba Tec explained that amid a severe business environment in which the declining printing volume due to post-COVID-19 work style reforms and office DX promotion and intensifying competition with peers continue, the business group focused on increasing basic earnings power of core business.
At the same time, the business group worked on developing the auto ID business, document and data solutions, and customer support business in order to expand business in growth areas.
The company added that sales of MFPs increased due to the impact of foreign exchange rates in addition to increased sales in the Americas, Europe, and other regions as a result of focusing on raising selling prices, supplying high performance models, and other efforts.
For its overall forecast, Toshiba Tec raised expected net sales for both the Retail Solutions business and the Workplace Solutions business segment for the full fiscal year 2023.
Categories : City News
Tags : Business Financials OEM Sales Toshiba Tec
