Toshiba Corp. said Thursday its group net profit in the business year ended in March dropped 34.3 percent from the previous year to ¥50.83 billion, dragged down by a stalled nuclear power generation project in the United States following the 2011 Fukushima nuclear crisis.

But the major electrical machinery maker said its group operating profit rose 47.0 percent from the year before to ¥290.76 billion as sales expanded 13.5 percent to ¥6.50 trillion on brisk demand for its NAND flash memory used in smartphones and other digital products.

As for the home electronics sector, including televisions and personal computers, the company incurred an operating loss of ¥51 billion due partly to expenses to dispose of TV inventory in the Europe.