Wednesday , April 24 2019

Toshiba to slash operating profit forecast by half

Bloomberg

Toshiba will cut its year operating profit forecast to between 20 billion and 30 billion yen ($180 million and $270 million) from the 60 billion-yen projection it made in November, Nikkei Asian Review reported, without saying where the information came from.
Increased costs in sectors like energy are dragging down earnings from core operations, the report said. Toshiba will maintain its medium-term plan targeting 400 billion yen in operating profit by the year ending March 2024. The company is expected to report earnings on February 12.

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