TOKYO, JAPAN: Toshiba said its half-year net profit rose by about 43% from a year ago, largely owing to a weak yen and strong sales in its infrastructure business.
Toshiba has reported profits of ¥30.8bn for the six months to September, 43% higher than its profits last year. The conglomerate is involved in a host of industries including power generation, transmission systems and medical equipment to computer chips and laptops. Image: Amazon
The company said it earned ¥30.8bn in the six months to September on sales of ¥3.1trn and increase of 3.6%.
For the year to March next year, Toshiba left its forecasts unchanged, expecting a net profit of ¥120bn on sales of ¥6.7trn.
"Although the PC (personal computer) business recorded restructuring expenses of ¥20.0bn, the energy and infrastructure and community solutions segments recorded higher operating income," Toshiba said in a statement.
A sharply weaker yen has helped major Japanese exporters by making them more competitive overseas and inflating repatriated profits.
Toshiba is involved in a range of businesses from power generation, transmission systems and medical equipment to computer chips and laptops.
Despite the upbeat results, the company pointed to weakness in its TV and consumer goods businesses, which reduced profits for the company.
"The visual products business, which includes LCD TVs, saw sales fall while the white goods business also recordeed lower sales volumes partly because of a decrease in sales of residential air-conditioners caused by weather instability in Japan this summer," it said.
Source: AFP via I-Net Bridge