Toshiba swings to profit as devices sell well

July 31, 2013
A Toshiba employee unveils a Dynabook AZ laptop at a Tokyo hotel. Japan's Toshiba on Wednesday reported $54 mn in net profit for the April-June quarter, reversing a quarterly loss a year earlier, thanks to a weak yen and brisk sales of electronic devices.

Japan's Toshiba on Wednesday reported $54 million in net profit for the April-June quarter, reversing a quarterly loss a year earlier, thanks to a weak yen and brisk sales of electronic devices.

The technology and engineering conglomerate said it earned 5.3 billion yen in for the three months, compared with 12.1 billion yen in net loss a year before.

Operating profit more than doubled to 24.3 billion yen on sales of 1.39 trillion yen, up 9.6 percent from the same period last year.

The profit gain for the quarter was mainly due to "significant growth in the segment and yen depreciation," the company said in a statement.

A sharp decline in the yen has helped many Japanese firms, making them more competitive overseas and boosting the value of repatriated foreign income, which inflates their bottom line.

But Toshiba said its televisions and other digital products stumbled, with worldwide facing fierce competition.

Toshiba left its full-year forecast unchanged, projecting a net profit of 100 billion yen on sales of 6.1 trillion yen for the year to March 2014.

Explore further: Toshiba returns to black on smartphone chip demand

Related Stories

Toshiba returns to black on smartphone chip demand

January 31, 2011

(AP) -- Toshiba Corp. said Monday it returned to the black in the October-December quarter thanks to robust global demand for the flash memory chips used in digital cameras and smartphones.

Japan's Fujitsu hit by third-quarter loss

January 31, 2012

Japanese high-tech giant Fujitsu plunged into a net loss for the three months to December, it said Tuesday, as it slashed its full-year sales and profit forecast.

NEC swings to quarterly net profit

January 31, 2013

Japanese information technology firm NEC said Thursday it had swung to a net profit in the October-December quarter, thanks in part to improved sales in defence systems and mobile networks.

Yen fall returns Nintendo to profit (Update)

July 31, 2013

Nintendo is making money again courtesy of a weaker yen but its business selling game machines is ailing, with sales of its flagship Wii U console still lackluster.

Panasonic's April-June net profit up by 8 fold (Update)

July 31, 2013

Japanese consumer electronics giant Panasonic Corp. said Wednesday its quarterly earnings surged more than eight-fold, helped by the weaker yen and a one-time boost from a change in its corporate pension scheme.

Recommended for you

Interactive tool lifts veil on the cost of nuclear energy

August 24, 2015

Despite the ever-changing landscape of energy economics, subject to the influence of new technologies and geopolitics, a new tool promises to root discussions about the cost of nuclear energy in hard evidence rather than ...

Smart home heating and cooling

August 28, 2015

Smart temperature-control devices—such as thermostats that learn and adjust to pre-programmed temperatures—are poised to increase comfort and save energy in homes.

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.