Toshiba Tec Reports Sharp Increases for Sales, Profits Despite Supply, Logistics Constraints
Toshiba Tec Corporation, which is the parent company of Toshiba America Business Solutions, and is headquartered in Japan, today reported results for its latest nine-month period, which consisted of the nine months that ended on December 31, 2021.
For the nine-month period, the company said there was tight supply and rising prices for components and transportation. However, as the economy overall improved, net sales recovered to ¥328.5 billion ($2.8 billion) up 12.5 percent year-over-year; operating profit was ¥8.6 billion ($74.7 million), up 171 percent year-over-year; and profit was ¥6.1 billion ($52.9 million) compared to a loss of ¥3.3 billion ($28.6 million) for the same period a year earlier.
Workplace Solutions Business Group
This group includes copier/MFPs, inkjet print heads, and related products. Sales of MFPs increased in the Americas, Europe, Asia, and other regions, while sales of inkjet print heads declined.
For the nine-month period, net sales were ¥134.2 billion ($1.1 billion), up 17 percent year-over-year; operating profit was ¥419 million ($3.6 million), versus a loss of ¥5.7 billion ($49.5 million) for the same period a year earlier.
Retail Solutions Business Group
Toshiba Tec’s other business group, the Retail Solutions group, includes point-of-sales systems and related products. Net sales were ¥197.0 billion ($1.7 billion), up 9 percent year-over-year. However, operating profit was ¥8.2 billion ($71.2 million), down 8 percent year-over-year, due to a tight supply of components.
For its fiscal year that will end on March 31, 2022, Toshiba Tec revised its forecast, increasing its net sales and profit outlooks. It’s now forecasting net sales of ¥445 billion ($3.8 billion), versus ¥405.6 billion ($3.5 billion) for the previous year; operating profit of ¥15 billion ($130.3 million), versus ¥8.2 billion ($71.2 million) for the previous fiscal year; and profits of ¥8.0 billion ($69.5 million), versus ¥7.1 billion ($61.6 million) for the previous fiscal year.
For its Workplace Solutions Business, the company increased its forecast, due to stronger than expected sales of MFPs. It’s now forecasting net sales of ¥183.0 billion ($1.5 billion), versus ¥158.9 billion ($1.3 billion) for the previous fiscal year. It also increased its operating profit forecast for this group to ¥2.5 billion ($21.7 million), versus a loss of ¥5.4 billion ($46.9 million) for the previous year.
- November 2021: Toshiba Tec Reports Improved Results, But Warns of Supply, Logistics Costs
- August 2021: Toshiba Tec Financial Results Continue to Improve
- May 2021: Toshiba TEC Sees Improvement in Second Half