Toshiba Corp. said Wednesday its group net loss widened to 36.85 billion yen in the April-June quarter from 18.8 billion yen a year earlier.
It blamed the increase on poor sales in its electronics device business.
In its consolidated earnings report based on U.S. accounting standards, the consumer and industrial electrical machinery giant said its pretax loss also widened to 50.91 billion yen from 33.27 billion yen.
This came while sales fell 6.2 percent to 1.12 trillion yen.
The company said about 60 percent of the sales drop was due to the transfer of its cathode-ray tube business to a joint venture with Matsushita Electric Industrial Co.
Sales volume of PCs increased both in and outside Japan. But price falls left domestic sales roughly flat in terms of value, and overseas sales were down sharply.
As a result, sales in Toshiba’s digital product division fell 7 percent to 431.1 billion yen. The division includes PCs, TV sets and mobile phones.
Sales in its electronic device division fell 3 percent to 287 billion yen, with sales lost in the wake of the transfer of the CRT business more than offsetting improved sales of semiconductor products and liquid crystal displays.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.