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Toshiba Tec sees improvements in second half of 2020

May 10, 2021

The company said its operating profit improved due to increased sales, structural reform and through cost management.

For the full year 2020 net sales were ¥405.7 billion (3.7 billion/ €3.07 billion) which beat forecasts but was down ¥78.1 billion ($718 million/ €590 million) year-on-year.

For the second half of FY2020 net sales in Toshiba Tec’s Printing Solutions Business Group were ¥79.7 billion ($733 million/ €602 million) , with full year net sales being ¥145.2 billion ($1.3 billion/ €1.1 billion). This again beat the forecasts by 2.2% but was down year-on-year by ¥34.7 billion ($319 million/ €262 million).

The net sales forecasts for the new Workplace Solutions Business Group, which takes effect for FY2021 and includes the Printing Solutions Business Group, was set as ¥175 billion ($1.61 billion/ €1.32 billion) for the FY2021.

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