Toshiba Corp reiterated its annual operating profit outlook, predicting a four-f...
FILE PHOTO: The logo of Toshiba Corp is seen at its headquarters in Tokyo, Japan January 23, 2017. REUTERS/Toru Hanai/File Photo
TOKYO - Toshiba Corp reiterated its annual operating profit outlook, predicting a four-fold jump as it reaps the reward of major restructuring last year, even as it works to offload its potentially money-losing U.S. LNG business to maintain momentum. The Japanese conglomerate forecast profit of 140 billion yen for the year through March 2020 on Monday, versus 35.4 billion yen a year earlier. It was in line with the target Toshiba set in its five-year plan.
The outlook compared with the 116.35 billion yen average of 16 analyst estimates compiled by Refinitiv. Toshiba’s share price shot up after the firm announced the five-year plan in November, but has since lost 15% partly due to concern over the impact of Sino-U.S. trade friction. The stock was down 3.5% at Monday’s midday trading break.
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