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Toshiba: Sales decrease, operating profit increases

August 17, 2020

The company has released its first quarter results, the period which ended 30 June 2020.

Toshiba recorded net sales of ¥599.8 billion ($5.63 billion/ €4.76 billion), a decrease of 26% compared to the same period of the previous fiscal year. Operating profit, however, saw an increase to ¥37.9 billion ($356 million/ €300 million), compared to ¥9 billion ($85 million/ €71 million) in the previous year.

In its Retail and Printing segment, Toshiba said that decreased demand of MFP and POS systems and the restrictions of sales activities due to COVID-19 restrictions, has had an impact of -¥10.8 billion (-$101 million/ -€86 million) in the segment during the reporting period. Net sales for the segment were ¥85.4 billion ($802 million/ €677 million).

Toshiba has not changed its original forecast for the full year 2020.

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