Toshiba to cut costs by $3.5 bln

May 24, 2009
Japanese electronics giant Toshiba plans to reduce fixed costs by 10% more than previously announced, a news report has said.

Japanese electronics giant Toshiba plans to reduce fixed costs 10 percent more than previously announced, a news report said on Sunday.

It will cut costs 330 billion yen (3.5 billion dollars), which should allow it to secure an of 100 billion yen in the 2009 fiscal year which runs to March 2010, the Nikkei business newspaper said.

, which posted an operating loss of 250 billion yen in fiscal 2008, is one of many major Japanese electronics firms that suffered a slump in sales due to the global slowdown.

said Thursday that it would cut its number of suppliers by more than half to reduce procurement costs by 5.3 billion dollars a year.

Hitachi also plans to cut such expenses by 200 billion yen, Nikkei said.

(c) 2009 AFP

Explore further: Japan's Sharp sees deeper net loss

Related Stories

Japan's Sharp sees deeper net loss

April 8, 2009

Japanese electronics giant Sharp Corp. said that it had fallen deeper in the red than expected in the past year, suffering its first-ever loss due to the economic downturn.

Toshiba expects bigger loss, contract job cuts

April 17, 2009

(AP) -- Toshiba Corp., Japan's top chipmaker, Friday said its net loss for the last fiscal year will be bigger than forecast due to a large write-off, and warned that more contract jobs will be cut.

Japan's Pioneer expects sixth year in red

May 13, 2009

Japan's Pioneer Corp. warned it would spend a sixth straight year in the red as it pulls the plug on its loss-making television business and slashes thousands of jobs.

Recommended for you

Sponge creates steam using ambient sunlight

August 22, 2016

How do you boil water? Eschewing the traditional kettle and flame, MIT engineers have invented a bubble-wrapped, sponge-like device that soaks up natural sunlight and heats water to boiling temperatures, generating steam ...

Apple issues update after cyber weapon captured

August 26, 2016

Apple iPhone owners on Friday were urged to install a quickly released security update after a sophisticated attack on an Emirati dissident exposed vulnerabilities targeted by cyber arms dealers.

0 comments

Please sign in to add a comment. Registration is free, and takes less than a minute. Read more

Click here to reset your password.
Sign in to get notified via email when new comments are made.