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Toshiba Tec: Performance improved significantly

Toshiba Tec: Performance improved significantly

November 8, 2021

The company has released its financial results for the first half of FY2021, stating profits are up, but forecast had to be revised downward due to parts, shipping container shortages and increased prices.

Toshiba net sales for the first half of FY 2021 were ¥217 billion ($1.91 billion/ €1.65 billion), up by ¥25.2 billion ($222 million/ €192 million) compared to the same period of the last fiscal year. Operating profit was up by ¥5.3 billion ($47 million/ €40 million) year-on-year.

Toshiba Tec’s Workplace Solution Business Group recorded net sales of ¥87.8 billion ($774 million/ €669 million), up by ¥15.9 billion ($140 million/ €121 million) year-on-year. Although operating profit for the segment remained in the red, it was up by ¥5.5 billion ($48 million/ €42 million) in the recording period.

In its forecast, Toshiba Tec has increased its predicted net sales to ¥440 billion ($3.88 billion/ €3.35 billion), but revised down operating profits to an expected ¥15 billion ($132 million/ €114 million). Toshiba said: “The yearly forecast is revised downward due to global shortage of parts and shipping containers accompanied by soaring prices.” The company added that it expects “the bottom line impact by supply chain disruptions is -¥7.4 billion ($65 million/ €56 million) in the first half of FY2021 and -¥14.2 billion ($125 million/ €108 million) in FY2021.

Categories : City News

Tags : Business Financials OEM Toshiba Tec

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