Toshiba Corp. on Wednesday sharply downgraded its group operating profit forecast for the fiscal year through March, due mainly to losses and additional costs stemming from its semiconductor manufacturing equipment and energy businesses.
Toshiba now expects its group operating profit to stand at ¥20 billion ($181 million) for fiscal 2018, compared with an estimate of ¥60 billion released in November.
Toshiba attributed the downgrade to a ¥9.8 billion asset impairment loss incurred by its semiconductor equipment unit NuFlare Technology Inc. amid a sharp fall in its stock prices.