Reuters logo
Toshiba forecasts return to small profit in unaudited earnings estimates
May 15, 2017 / 3:33 AM / 4 months ago

Toshiba forecasts return to small profit in unaudited earnings estimates

Toshiba Corp logo is seen at the company's headquarters in Tokyo, Japan March 29, 2017. REUTERS/Issei Kato

TOKYO (Reuters) - Toshiba Corp (6502.T) said on Monday it expects a net profit of 50 billion yen ($440 million) in the current business year to next March, a turnaround from an estimated loss of 950 billion yen in the year just ended.

The estimate for this business year excludes earnings from its chip unit and its smart meter subsidiary Landis+Gyr - both of which it plans to sell to help dig itself out of a financial crisis.

In its unaudited earnings release, Toshiba said it expects to have a negative net worth of 540 billion yen at the end of March if it fails to raise funds from the sale of its prized chip unit soon.

Reporting by Makiko Yamazaki; Editing by Edwina Gibbs

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below