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Toshiba Issues Revised Business Forecasts for FY1999

16 March, 2000

Tokyo--Toshiba Corporation today issued revised forecasts for its consolidated and non-consolidated business for the current fiscal year ending March 31, 2000.

  1. Consolidated forecast
    Today's announcement supercedes the forecast that was announced on Nov. 15, 1999 when the company announced its results for the first half of FY1999. The key points are as in the table below.

    (billion yen)

  2. Non-consolidated forecast
    Today's announcement supercedes the revision that was announced on Oct. 29, 1999. The key points are as in the table below.

    (billion yen)

  3. Reasons for revision
    In the latter part of FY1999, prices of electronic devices, such as semiconductors and LCDs, remained stable due to strong demand for cellular phones, personal computers and other information equipment. Accordingly, operating income for both consolidated and non-consolidated basis is now expected to exceed the original forecast. This allowed for an upward revision against the original forecasts for income (loss) before income taxes and minority interest, net income on a consolidated basis, and recurring profit on a non-consolidated basis.

    However, the board of directors decided to reflect an extraordinary loss of 330 billion yen in this fiscal term, in order to increase reserves against a projected shortfall in the retirement fund and to minimize the burden of such transfers in coming years. The extraordinary loss will be reflected in the parent company's accounts. In line with the US SEC standards, it will not impact on the consolidated figures.

    The year-end dividend covering Oct 1, 1999 through Mar 31, 2000 is expected to be 3 yen per share.

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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