Toshiba on Wednesday posted an unexpected operating loss in the first quarter as it grappled with a sharp rise in logistics and raw material costs as well as a global chip shortage.
Chief Financial Officer Masayoshi Hirata told reporters that the conglomerate's first quarterly loss in two years came amid jumps in prices for steel, copper as well as components sourced from suppliers.
"We have been able to only offset about half the impact of higher materials and logistics costs with price hikes," he said.