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Toshiba sees record profit as other businesses offset nuclear slump

08
May
2014

Japans Toshiba Corp forecast operating profit to climb 14 percent to a record this business year, as buoyant sales of power grid equipment and robust income from flash memory chips offset weakness in its nuclear reactor business. Increased demand for power distribution systems and railroad network equipment is expected to help profit at its energy and infrastructure unit double. Toshiba, a leading supplier of flash memory chips used in smartphones and tablet computers, predicted operating income of 330 billion yen ($3.2 billion) in the year ending March 31, also boosted by an expected rebound in consumer appliances such as TVs and computers. The guidance, however, fell short of an average estimate of 355 billion yen from 22 analysts surveyed by Thomson Reuters.

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