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Toshiba Reports Sales, Profit Gains

Toshiba’s CE sales increased 14 percent to $21.7 billion during fiscal year 2005, while profits increased at just about the same rate.

The CE manufacturer reports that in its digital products business, which includes consumer electronics, consolidated operating income for the year, ended March 31, was $178.3 million, a 13.6 percent gain over last year.

The improved performance in operating income was due to it mobile phones business and storage devices “despite adverse impacts from exchange rate fluctuations and price erosion in such products as DVD recorders,” the company reported.

Its personal-computers business had sales increases based on “overseas growth, mainly in the U.S. and Europe.” The Digital Media Network business saw sales increases on higher sales of storage devices.

Toshiba’s consolidated sales for all categories were $54.2 billion, a 9 percent gain, while operating income was $2.05 billion, an increase of 85.8 percent. Net income increased by almost half to $668.3 million for the fiscal year,

For its medium- to long-term business strategy Toshiba continues to see its SED TVs and HD DVD products as growth areas, and wants to push its “technological expertise” in notebook PCs, hard disk drives and mobile phones. There was no information in the report as to when SED TVs would be introduced from Toshiba.