Acknowledging Toshiba Corp. has not met its targets in the last five years, the firm's new president lowered profit ratio forecasts Tuesday, indicating that while it expects sales to grow, profits will likely decline -- or will not grow as fast.
The electronics maker is targeting an operating income ratio -- operating profit divided by sales -- of "more than 4 percent" for fiscal 2007, said Atsutoshi Nishida, who became president in June.
Earlier this year, Toshiba set a goal of 4.5 percent operating income ratio for the three years through March 2007.