Toshiba Corp. said its profitability will improve in the next fiscal year as it scales back on products such as personal computers and home appliances.
Operating profit will be ¥120 billion ($1.1 billion) and revenue ¥4.9 trillion in fiscal 2016, the electronics maker said on Friday, in a presentation titled "A road map to a new Toshiba." Analysts were projecting, on average, a profit of ¥145.5 billion on sales of ¥5.77 trillion, according to data compiled by Bloomberg.
Toshiba, which makes everything from computers to nuclear power equipment, is seeking to revive profits by narrowing the scope of its business lines. An accounting scandal has left the Japanese conglomerate in tatters, facing record losses, job cuts and potential spinoffs. The company is selling its medical unit to Canon Inc., home-appliance business to China's Midea Group Co. and is considering letting go of its PC operations.