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Toshiba Tec releases FY2019 results

Toshiba Tec releases FY2019 results

May 26, 2020

The company has released its fiscal year 2019 results and fiscal year 2020 forecasts and plans.

For the fiscal year 2019, Toshiba Tec recorded total net sales of ¥483.8 billion ($4.49 billion/ €4.1 billion), missing its original forecast slightly but still up ¥7 billion ($65.02 million/ €59.35 million) compared to the same period of the previous fiscal year. Operating profit saw an increase of 2.9% at ¥14 billion ($130.04 million/ €118.71 million).

In its printing solutions business group, net sales accumulated to ¥179.9 billion ($1.67 billion/ €1.52 billion), down from ¥192.9 billion ($1.79 billion/ €1.64 billion) from the same period of the previous year. In its announcement Toshiba Tec said that ¥83.7 billion ($777.52 million/ €709.83 million) are from the Americas, ¥56.8 billion ($527.68 million/ €481.74 million) from Europe and ¥39.4 billion ($366.03 million/ €334.16 million) from China (etc).

For its FY2020 forecast, Toshiba Tec said that it is looking to return to a profitable operation by executing structural reform and business transformation. For its printing solutions business it said it is looking to investigate every possible strategic option including an alliance with other enterprise in response to market changes of the post-corona. The company estimates the impact of the COVID-19 pandemic will be the loss of ¥70 billion ($650.52 million/ €593.87 million) of sales and ¥27 billion ($250.91 million/ €229.06 million) of operating profit.

Categories : City News

Tags : Business Financials OEM Toshiba Tec

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