Toshiba Expects Jump In Profit

Wednesday, May 8, 2013

Toshiba Expects Jump In Profit

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Toshiba said on Wednesday it expects its operating profit to reach 260 billion yen ($2.6 billion) for the year ending March 31, 2014, mainly boosted by strong sales of its flash memory chips.

This is a 34 percent jump in operating profit for this fiscal year.

The company had previously set a conservative estimate for this business year based on uncertainty in TV and computer markets, as well as risks related to its memory chip sales in the second half of the year.

For the year that ended in March, Toshiba reported an operating profit of 194.3 billion yen, down 4.1 percent from the previous year.

The NAND flash memory chip maker blamed the weak performance on a 24.4 billion yen operating loss in its digital products division, which makes televisions and personal computers.