Toshiba Corp. said Thursday its group net profit dropped 29.1 percent in the April to December period from a year earlier to ¥38.68 billion on increased tax payments, though sales expanded on robust demand for electric components.
The major electrical machinery maker said its group operating profit surged 56.1 percent to ¥153.35 billion on consolidated sales of ¥4.59 trillion, up 13.5 percent, due to its favorable solar power business as well as its transport equipment operations.
The company said sales of its NAND flash memory fared well amid solid smartphone demand, while profits in its social infrastructure business declined due partly to a slowing in the nuclear generation system operation amid the nationwide reactor shutdown.