Toshiba Corp. expects a record group net loss of around ¥500 billion for the business year ending in March, as it makes greater efforts to streamline operations following its profit-padding scandal, a company source said Saturday.
The net loss, which will balloon from ¥37.8 billion for the previous year, will eclipse the current record of ¥398.8 billion logged in the year through March 2009 in the aftermath of the global financial crisis. Its operating loss for fiscal 2015 is expected to top ¥200 billion, against a profit of ¥170.4 billion for fiscal 2014, according to the source.
Slated to announce Monday a restructuring plan for its home electronics business, including white goods, televisions and personal computers, the company will also unveil its earnings outlook for the current fiscal year, which has so far been withheld.