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Toshiba's FY 2013 net profit down 34% on stalled nuclear power project
Kyodo News International May 8, 2014 8:36am
Toshiba's FY 2013 net profit down 34% on stalled nuclear power project
(Globalpost/GlobalPost)
Toshiba Corp. said Thursday its group net profit in the business year ended in March dropped 34.3 percent from the previous year to 50.83 billion yen, dragged down by a stalled nuclear power generation project in the United States following the 2011 Fukushima nuclear crisis.
But the major electrical machinery maker said its group operating profit rose 47.0 percent from the year before to 290.76 billion yen as sales expanded 13.5 percent to 6.50 trillion yen on brisk demand for its NAND flash memory used in smartphones and other digital products.
As for the home electronics sector including televisions and personal computers, the company incurred an operating loss of 51 billion yen due partly to expenses to dispose of TV inventory in the Europe.
For the current business year ending next March, Toshiba expects its group net profit to more than double to 120 billion yen, operating profit to rise 13.5 percent to a record 330 billion yen, on consolidated sales of 6.7 trillion yen, up 3.0 percent.
Senior Executive Vice President Makoto Kubo said...
Toshiba's FY 2013 net profit down 34% on stalled nuclear power project
(Globalpost/GlobalPost)
Toshiba Corp. said Thursday its group net profit in the business year ended in March dropped 34.3 percent from the previous year to 50.83 billion yen, dragged down by a stalled nuclear power generation project in the United States following the 2011 Fukushima nuclear crisis.
But the major electrical machinery maker said its group operating profit rose 47.0 percent from the year before to 290.76 billion yen as sales expanded 13.5 percent to 6.50 trillion yen on brisk demand for its NAND flash memory used in smartphones and other digital products.
As for the home electronics sector including televisions and personal computers, the company incurred an operating loss of 51 billion yen due partly to expenses to dispose of TV inventory in the Europe.
For the current business year ending next March, Toshiba expects its group net profit to more than double to 120 billion yen, operating profit to rise 13.5 percent to a record 330 billion yen, on consolidated sales of 6.7 trillion yen, up 3.0 percent.
Senior Executive Vice President Makoto Kubo said...
http://www.globalpost.com/dispatch/news/kyodo-news-international/140508/toshibas-fy-2013-net-profit-down-34-stalled-nuclear-po
Fukushima had nothing to do with the trouble with their project. They lowballed the bid, the price skyrocketed after they signed the contracts and it came out that the local politicos in Tx were aware of the lowball ahead of time.