|Toshiba net profit soars in first quarter
Toshiba said Thursday its first-quarter net profit climbed 68.7 percent due to brisk sales in infrastructure business and PCs in Japan.
In the three-month period to June, Toshiba posted a net profit of 8.9 billion yen, a 68.7 percent jump from a year earlier.
Operating profit surged 57.1 percent to 39.5 billion yen on sales of 1.41 trillion yen, up 2.7 percent.
Toshiba is involved in a range of businesses from power generation, transmission systems and medical equipment to computer chips and laptops.
For the year to March next year, Toshiba said it expected a net profit of 120 billion yen on sales of 6.7 trillion yen.
"The energy and infrastructure segment saw overall sales increase, reflecting higher sales in the nuclear power systems business in Japan, and in the thermal and hydro power systems, electric power distribution systems, solar photovoltaic systems and railroad systems business,'' it said in a statement.
"The PC business improved significantly, recording higher operating income,'' it said, noting that demand driven by the end of support service for the Windows XP operating system contributed to increase in sales.
Toshiba's visual products business also saw an improvement "due to the effects of restructuring, higher sales prices and a shift in focus to redefined sales territories,'' it said.
But the company's electronics devices business saw a slight decline in operating profit due to intense pricing competition in the market, it said. --AFP