Toshiba Tec Revises Forecast, Now Expects Loss

Toshiba Tec of Japan today reported that it’s revised its forecast for its fiscal year that ended on March 31, 2024.

In a nutshell, compared to its February 2024 forecast, the company maintained its net sales forecast; lowered its operating profit forecast; and lowered its net profit loss, as its now forecasting a loss of ¥6.5 billion ($41.79 million).

Reasons for Revision

Net sales are expected to be in line with the previously announced forecast in general. However, operating profit and ordinary profit are expected to decrease from the previously announced forecast, mainly due to lower point-of-sale (POS) systems, and the impact of non-operating expenses due to foreign exchange rates, although forecast profit for the Workplace Solutions Business Group (office printers and MFPs) improved.

Net profit is expected to decline mainly due to the increase of income taxes.

Based on these factors, the consolidated financial results forecast for the fiscal year ending March 31, 2024 has been revised as stated above.

Toshiba Tec’s year-end dividend forecast remains unchanged from the ¥25 yen per share announced in February.

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