5/13, 6:43 AM (Source: TeleTrader)
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Toshiba's revenue drops to ¥3.7T in fiscal 2018

Toshiba Corp. reported a drop of ¥254.1 billion in net sales in fiscal 2018 ending on March 31, 2019, coming in at ¥3.69 trillion ($33 billion) for the whole year. At the same time, operating income fell ¥50.8 billion to ¥35.4 billion, while net income attributable to shareholders rose by ¥209.3 billion, arriving at ¥1.13 trillion.

The Japanese tech company noted that its income from continuing operations, before income taxes and non-controlling interests stood at ¥10.9 billion, ¥71.5 billion lower than in fiscal 2017.

The financial release noted that "generally solid" growth was observed in the United States, while it slowed in Europe. In China, domestic demand growth eased, due to trade frictions with the US, it added, as Japan's exports to China also declined. Toshiba projected net sales for fiscal 2019 to total ¥3.4 trillion, with operating income at ¥140 billion.

Breaking the News / NI