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Toshiba Reports Q1 Loss on Weak PC, TV Sales

Toshiba Reports Q1 Loss on Weak PC, TV Sales

Enterprise & IT Sep 14,2015 0

Toshiba on Monday reported a first-quarter loss on weak PC and TV sales, adding extra pressure to the Japanese company in light of a $1.3 billion accounting scandal. The company reported an April-June operating loss of 10.96 billion yen ($91 million) compared with a 47.7 billion yen profit a year earlier.

The announcement came a week after it reported a 37.8 billion yen net loss for the last financial year through March . It also said it had overstated profits going back to fiscal 2008/09 by 155 billion yen.

Quarterly revenue fell 5 percent from a year earlier to 1.35 trillion yen, led by a decline in PC and TV sales.

Chief Executive Masashi Muromachi said last week he was looking to restructure weak operations and reconsider strategies announced by his predecessor, who stepped down amid the scandal in July.

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