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Annual Report (To Our Shareholders)

FY2010 - ended March 2011

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  • To Our Shareholders
  • Financial Highlights
  • An Interview with the President
  • Mid-term Business Plan
  • Business Review
  • Corporate Governance/Directors

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To Our Shareholders

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photo of Atsutoshi Nishida Director Chairman of the Board and Norio Sasaki Director President and CEO

Atsutoshi Nishida
Director
Chairman of the Board

Norio Sasaki
Director
President and CEO

In FY2010, consolidated net sales increased to ¥6,398.5 billion, a rise of 1.7% over that of the previous fiscal year. In addition, consolidated operating income surged ¥115.1 billion over that of the previous fiscal year to ¥240.3 billion, and net income was ¥137.8 billion, a sharp turnaround of ¥157.5 billion compared with the previous fiscal year. Our profit level recovered to that of FY2007, the year prior to the global financial crisis, as each of our business segments generated profit.

In the Digital Products business segment, the operating income generated by LCD TVs was in the black for the seventh consecutive fiscal half-year term on increased sales. Compared with the previous fiscal year, the operating income engendered by notebook PCs improved greatly, as their sales also grew. In the Electronic Devices business segment, our memories business achieved a record-high profit of ¥108.7 billion. The operating income of our LCD panels business greatly improved and moved into the black, as we restructured the business. In the Social Infrastructure business segment, sales of power generation systems, including to the emerging economies, remained solid and the segment continued to maintain a high level of profit. The Home Appliances business segment turned in a healthy performance and moved into the black. The strengthening of our financial base has progressed steadily. Our debt-to-equity ratio improved to 125% at the end of March 2011 from 153% at the end of March 2010. The annual dividend for FY2010 was ¥5 per share.

Going forward, we are determined to contribute to the recovery of Japan by supporting the restoration of Japan’s social infrastructure. At the same time, we will continue to strive to make Toshiba an even stronger global contender, one with unrivalled global competitiveness in our major business fields and with a robust financial foundation. Towards this end, we will continue our efforts to restructure certain of our businesses and strengthen the profit basis of underperforming businesses. We will speed up the transformation of Toshiba’s business structure by prioritizing investment to new and growing focus business areas so as to create new profit bases. We will also strive to greatly increase Toshiba Group’s ability to respond to the challenges to society posed by the need for global environmental change. As we carry out these strategic management policies, we will further endeavor to enhance the corporate value of Toshiba Group.

We would like to ask our shareholders for their continued strong support.

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