💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Toshiba revises down full-year operating profit forecast after quake

Published 04/18/2011, 11:20 PM
Updated 04/18/2011, 11:24 PM

TOKYO, April 19 (Reuters) - Toshiba Corp said it likely fell short of its operating profit forecast for the past business year by 4 percent, citing the effects of the March 11 quake and tsunami, which affected operations at some of its plants.

Toshiba said it now expected to post an operating profit of 240 billion yen for the year ended last month, 10 billion yen short of its prior forecast.

But the company revised up its net profit forecast to 135 billion yen from 100 billion yen. A spokesman said restructuring costs had been lower than expected and that the company had sold off some real estate. (Reporting by Isabel Reynolds; Editing by Nathan Layne)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.