Japanese conglomerate Toshiba said Friday that full-year net profit fell by more than a third, due partly to weak sales in electronic devices and other one-off factors.

It also said a planned takeover bid process that is expected to take the company private will likely start in late July.

For the year that ended March, the engineering giant booked a ¥126.57 billion ($940 million) net profit, down 35% on-year, on sales of ¥3.36 trillion, up 0.7%.