Business

Toshiba sees improvement in April-June quarter

Toshiba Corp. said Friday that increased sales in its main business segments such as digital products sharply narrowed its group net loss in the April-June quarter.

In its consolidated earnings report, compiled in accordance with U.S. accounting criteria, Toshiba booked a net loss of 7.78 billion yen, compared with a loss of 36.85 billion yen a year earlier.

Net loss per share fell to 2.42 yen from 11.45 yen.

On a pretax basis, the electronics conglomerate posted a profit of 257 million yen, compared with a loss of 50.91 billion yen a year earlier.

Sales increased 11.7 percent to 1.247 trillion yen.

Toshiba noted year-on-year sales gains in digital products, electronic devices and social infrastructure.

Digital products generated 487.10 billion yen in sales, up 13 percent, due to strong sales of personal computers in the U.S. and European markets, and brisk demand for cellular phones in Japan.

Sales in the electronic devices business grew 15 percent to 330.03 billion yen due to solid sales of semiconductors on the back of continued demand from the digital consumer market.

The social infrastructure sector boosted sales by 14 percent to 304.01 billion yen, reflecting increased orders for the maintenance of power plants and higher sales of transportation systems.

For the fiscal first half to Sept. 30, Toshiba revised its earnings projection upward to a net loss of 5 billion yen and a pretax profit of 5 billion yen on sales of 2.80 trillion yen, compared with a net loss of 30 billion yen and a pretax loss of 20 billion yen on sales of 2.66 trillion yen in its earlier forecast.

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