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Toshiba Issues Revised Business Forecasts for FY1999

29 October, 1999


TOKYO--Toshiba Corporation today issued revised non-consolidated and consolidated forecasts for the current fiscal year to March 31, 2000.

1. Non-consolidated forecast

    Today's announcement revises the forecast for FY1999 that Toshiba issued on October 26, 1999, when the company announced the 1st half result of the fiscal year. The key points are as in the table below.

    (¥billion)
    / Net Sales Recurring
    Profit
    Extraordinary
    Gains (Losses)
    Net Income
    (Loss)
    Original
    Forecast
    (A)
    3,520 0 - 50 - 30
    Revised
    Forecast
    (B)
    3,520 0 - 110 - 65
    (B) - (A) 0 0 - 60 - 35
    FY1998 3,407.6 4.9 - 17.1 - 15.5


2. Consolidated forecast

    Today's announcement revises the forecast for FY1999 that Toshiba issued on September 13, 1999. The key points are as in the table below.

    (¥billion)
    / Net Sales Income (Loss) Before
    Income Taxes and
    Minority Interests
    Net Income
    (Loss)
    Original
    Forecast
    (A)
    5,670 - 10 - 15
    Revised
    Forecast
    (B)
    5,670 - 70 - 50
    (B) - (A) 0 - 60 - 35
    FY1998 5,300.9 11.2 - 13.9


3. Reason for revision

    Toshiba has reached a settlement in a class-action lawsuit in the U.S. concerning the floppy disc drive controller (FDC) in its portable PCs. The company will reflect a 110 billion yen (approximately US$1 billion) extraordinary loss in its financial results for fiscal year 1999 in connection with the settlement. The company also anticipates an extraordinary gain of 50 billion yen (approximately US$455 million) from sales of securities.


Information in the press releases, including product prices and specifications, content of services and contact information, is current on the date of the press announcement,but is subject to change without prior notice.

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