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Toshiba Issues Revised Business Forecasts for the 1st Half of FY2004

22 October, 2004

Tokyo -- Toshiba Corporation today issued revised consolidated and non-consolidated business forecasts for the first half of fiscal year to March 31, 2005. Today's announcement revises the forecast that Toshiba issued with the announcement of its results for the 1st quarter of FY2004, on July 30, 2004. The key points are as in the table below.

1. Consolidated forecast
1st Half FY2004 (Apr. 1, 2004 through Sept. 30, 2004)   (¥billion)
1. Consolidated forecast

2. Non-consolidated forecast
1stHalf FY2004 (Apr. 1, 2004 through Sept. 30, 2004)   (¥billion)
2. Non-consolidated forecast

3. Reasons for revision
Operating income is not expected to meet the July 30 forecast, as the electronic devices segment will not see anticipated growth in operating income. However, as progress in business restructuring reduces non-operating expenses, income before income taxes and minority interest and equity in earnings of affiliates will see improvement, and net income will be in the black.

In line with the improvement in consolidated figures, recurring profit and net income on a non-consolidated basis will both see improvements over the previous forecast.

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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