Toshiba Posts Loss, Lower Sales In Quarter

By TWICE Staff On Oct 31 2012 - 2:07pm

Tokyo — Toshiba reported lower net sales and a net loss in its second fiscal quarter, ended Sept. 30.

Consolidated net sales were 1,417 billion yen ($18,167.3 million), a decrease of 169.4 billion yen. Digital products and the electronic devices segments saw decreases that reflected the impacts of continued yen appreciation and market deterioration, Toshiba reported.

Net loss in the quarter was 37.3 billion yen ($478.2 million), an increase of 17.5 billion yen. Operating income was 57.5 billion yen ($737.2 million), a decrease of 17.4 billion yen.

Digital products net sales was 346.7 billion yen, down 23 percent, and operating income was 4.5 billion yen, from no income in the prior year’s fiscal second quarter.

The digital products segment saw overall sales decrease. The visual products business, which includes LCD TVs, saw sales decline on lower-than-expected demand in Japan and sluggish sales in the United States and China. The PC business also recorded a decrease on sluggish sales in the United States, Toshiba said.

Overall segment operating income (loss) decreased, mainly on lower-than-expected demand for LCD TVs in Japan, although the PC business secured operating income on wide-ranging measures to promote cost reductions, the company said.

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