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Notice of Revised Business Forecast

19 March, 2008


Toshiba Corporation today announced the following revision to its business forecast for FY2007, ending March 31, 2008. This replaces the previous forecast announced on October 29, 2007.

1. Revised Forecast

Consolidated forecast for FY2007 (April 1, 2007–March 31, 2008)   (billion yen)
  (A)
Revised Forecast
(Mar. 19, 2008)
(B)
Previous Forecast
(Oct. 29, 2007)
(A) – (B) (A)/(B) FY2006
Net sales 7,700.0 7,800.0 -100.0 -1.3% 7,116.4
Operating income (loss) 230.0 290.0 -60.0 -20.7% 258.4
Income (loss) before income taxes and minority interest 250.0 350.0 -100.0 -28.6% 298.5
Net income (loss) 125.0 180.0 -55.0 -30.6% 137.4

Non-consolidated forecast for FY2007 (April 1, 2007 – March 31, 2008)   (billion yen)
  (A)
Revised Forecast
(Mar. 19, 2008)
(B)
Previous Forecast
(Oct. 29, 2007)
(A) – (B) (A)/(B) FY2006
Net sales 3,700.0 3,900.0 -200.0 -5.1% 3,544.9
Recurring profit (loss) 70.0 140.0 -70.0 -50.0% 98.1
Net income (loss) 65.0 130.0 -65.0 -50.0% 72.4

2. Reasons for the Revision

Net sales are expected to be lower than previously forecast, reflecting the discontinuation of the HD DVD business and the decline in sales prices of NAND flash memories.

While the PC business and Social Infrastructure segment are moving forward strongly, the Semiconductor business has seen a significant decrease in operating income due to a larger than anticipated declines in sales prices of NAND flash memories. Given this, the overall operating income is anticipated to see a decrease from the previous forecast. Income before income taxes and minority interest and net income are also expected to decrease from the previous forecast, primarily on costs incurred in the discontinuation of the HD DVD business.

Cautionary statements
This report contains forward-looking statements concerning future plans, strategies and the performance of Toshiba Group. These statements are based on management's assumptions and beliefs in light of the economic, financial and other data currently available. Furthermore, they are subject to a number of risks and uncertainties. Toshiba therefore wishes to caution readers that actual results may differ materially from our expectations. Major risk factors that may have a material influence on results are indicated below, though this list is not necessarily exhaustive.

  • Disputes including lawsuits in Japan and other countries
  • Success or failure of alliances or joint ventures promoted in collaboration with other companies;
  • Success or failure of new businesses or R&D investment;
  • Changes in political and economic conditions in Japan and abroad; unexpected regulatory changes;
  • Major disasters, including earthquakes and typhoons;
  • Rapid changes in the supply/demand situation in major markets and intensified price competition;
  • Significant capital expenditure for production facilities and rapid changes in the market;
  • Changes in financial markets, including fluctuations in interest rates and exchange rates.

Attachment

Attachment: Supplementary Data for FY2007 (Revised) [PDF:59KB]

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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