Toshiba Corp. reported a net loss of ¥140.23 billion ($1.3 billion) for the April-June quarter, weighed down by the sluggish performance of its affiliated semiconductor business amid the escalating U.S.-China trade war.
The technology conglomerate said on Wednesday that the red ink came also after booking a loss of ¥89.3 billion related to its agreement to transfer its liquefied natural gas operation in the United States to French oil giant Total S.A. as part of restructuring efforts.
In the January-March quarter of fiscal 2018, Toshiba Memory, the world's second-largest producer of flash memory chips after Samsung Electronics Co., booked a net loss of ¥19.3 billion after sales of chips used in smartphones fell due to the trade dispute between China and the United States.