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Toshiba Posts Improved Q2 Results

Tokyo – Toshiba reported improved net sales and net profits
in its fiscal second quarter, ended Sept. 30.

Net sales were 1,629.7 billion yen ($19.4 billion), an
increase of 46.7 billion yen from the same period the previous year. Net income
improved by 27.2 billion to 27.3 billion yen ($325.6 million) in the second

In its digital products segment, sales rose 4 percent to
572.4 billion yen, with operating income at 1 billion yen, down 1.6 billion yen
from last year’s fiscal second quarter.

Toshiba reported that the segment saw an overall sales
increase, with its storage products business feeling the impact of price
erosion. In its visual products business, including TVs, there was a “healthy
performance,” primarily in Japan, and the PC business had increased sales.

The operating income of the segment in the second quarter
was lower. PCs improved as a result of higher sales and decreases in materials
prices, the company reported.

In its six-month performance, sales were up 184.4 billion
yen to 3,081.1 billion yen ($36.7 billion) compared with last year’s fiscal
first half. Toshiba reversed a net loss from last year’s fiscal first half,
posting net income of 27.8 billion yen ($331.1 million), an increase of 85.6
billion yen.

In the first half, its digital products segment had a 14
percent gain in net sales and 1.2 percent gain in operating income due to a
healthy performance, primarily in Japan, for its TVs, and increased sales of
PCs. Its storage products business also had higher sales, reflecting on the
acquisition of Fujitsu’s hard-disk-drive business.