Toshiba profits surge but yen overshadows outlook

Nov 09, 2010

Japanese electronics giant Toshiba said Tuesday its net profit surged in the three months ended September from a year earlier but left its profit outlook unchanged on uncertainties caused by a strong yen.

Toshiba, whose business embraces consumer electronics and nuclear power plants, saw net income of 27.3 billion yen in the fiscal second quarter, improving on a profit of 94 million yen a year earlier.

The electronics giant saw strong sales of used in computers, smartphones and other gadgets in the period, it said. Its digital product business including and personal computers also enjoyed boost in sales.

Japan's electronics makers have staged a recovery from the depths of the after restructuring measures that involved cost reductions and thousands of job cuts for many companies.

But the benefits of a rebound in consumer demand have been complicated by fears over the impact of a strong yen on earnings. While profits continue to rise, companies have offered conservative profit outlooks, citing uncertainty.

Despite its strong profits, Toshiba left unchanged an earlier forecast of a 70 billion yen and 250 billion yen operating profit for the full year to March on sales of seven trillion yen.

A strong yen and falls in prices erased about 375 billion yen in operating profit for the six months to September, which was offset by cost cut efforts, Toshiba said.

Toshiba announced a return to the black in the six months to September, posting a 27.8 billion yen (343 million dollars) net profit compared with a loss of 57.7 billion yen a year earlier.

First half operating profit soared to 104.8 billion yen from just 2.1 billion the same period last year on strong sales of semiconductors and (LCDs), it said in a statement.

Sales increased 6.4 percent to 3.08 trillion yen from 2.90 trillion a year earlier.

shares closed up 1.42 percent before the earnings announcement.

Explore further: Square's point-of-sale service goes global

add to favorites email to friend print save as pdf

Related Stories

Sony rebounds to profit in April-June quarter

Jul 29, 2010

(AP) -- Sony bounced back to profit last quarter and raised its full-year earnings forecast, fueled by stronger demand for its PlayStation 3 gaming consoles, personal computers and televisions.

Japan's Toshiba still in red

Jul 29, 2009

Japanese high-tech giant Toshiba said Wednesday it had lost more than 600 million dollars in the fiscal first quarter as the economic downturn hit sales of televisions and other electronics.

Japan's Toshiba sees losses narrow

May 07, 2010

Japanese high-tech giant Toshiba Corp. announced Friday a sharply narrowed annual net loss based on strong demand for flash memory chips used in laptops, smartphones and other gadgets.

Recommended for you

Square's point-of-sale service goes global

2 hours ago

Financial services startup Square is taking aim at cash registers across the globe, making its point-of-sale software available internationally in English, Spanish, French and Japanese.

Apple, Xiaomi trade smartphone barbs in China

12 hours ago

Top executives from US technology giant Apple and Chinese smartphone upstart Xiaomi traded light-hearted barbs on Thursday at a Chinese Internet conference, acknowledging the fierce competition between the ...

Uber investigating if exec broke 'God' app rules

23 hours ago

Uber Technologies confirmed Wednesday that it is investigating whether one of its general managers violated the popular car-booking service's privacy policies by snooping on a reporter's ride.

Showdown looms between US gov't, air bag maker

Nov 19, 2014

A showdown is looming between U.S. safety regulators and a Japanese company that makes air bags linked to multiple deaths and injuries. Car companies and the driving public are caught in the middle.

User comments : 0

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.