Toshiba Issues Revised Business Forecasts for FY1998|
19 February, 1999
TOKYO--Toshiba Corporation issued revised forecasts for its non-consolidated and consolidated business for the current fiscal year to March 31, 1999.
The revised forecast of non-consolidated recurring profit reflects the influences of recent appreciation of the Japanese yen and of lower demand in Japan for information and computer system than expected, the result of sluggish capital investment in private sectors.
Approximately 62 billion yen will be accounted for as extraordinary gains from the sale of Time Warner stock, fixed assets in Japan and transfer of the PPC business to TEC Corporation. Extraordinary losses, of approximately 82 billion yen will be written off. Major factors include (1) reduction of the amortization period for the Japanese corporate employee pension funds, (2) the costs of restructuring the air conditioner business, (3) strengthening the home appliances sales organization in Japan, (4) improvement of the semiconductor business structure.
The cash dividend for the 2nd half of FY1998 is planned to be 3 yen per share, compared with 5 yen for the 2nd half of the previous year.
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