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Toshiba reports net income loss

August 8, 2019

The OEM has announced its first quarter consolidated results for the financial year 2019.

Toshiba reported net sales income of ¥813.2 billion ($7.67 billion/ €6.84 billion) which is down from the same period of the previous fiscal year which recorded ¥842.3 billion ($7.94 billion/ €7.09 billion). Net income was reported as a loss of – ¥140.2 billion (- $1.32 billion/ – €1.18 billion) a difference of – ¥1,156.9 billion (- $10.91 billion/ €9.74 billion) of the same period previously. Toshiba said the restructuring undertaken has resulted in an increase in operating income, however the net income loss was recorded due to the memory business sale in the first quarter of fiscal year 2018 which meant less income and the transfer of the LNG business.

Toshiba’s Retail & Printing Solutions business segment recorded net sales of ¥118.3 billion ($1.11 billion/ €995.87 million) which is a slight increase compared to the same period of the previous financial year. Toshiba said this is due to higher sales in Japan, however overseas sales decreased.

Overall for fiscal year 2019 Toshiba forecasts total net sales of ¥3,400 ($32.06 billion/ €28.62 billion) but still a net income loss of – ¥132 billion (- $1.24 billion/ – €1.11 billion). For its Retail & Printing Solutions business segment Toshiba forecasts full year net sales of ¥490 billion ($4.62 billion/ €4.13 billion).

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