Toshiba Reports Record-High Sales & Profit for FY2024

Toshiba Reports Record-High Sales & Profit for FY2024

Toshiba Tec has released its consolidated business results for FY2024, seeing satisfactory results across all metrics, with sales and net profit reaching record highs.

All results surpassed Toshiba’s previous forecasts and outperformed previous year’s figures. Net sales totaled JPY 577.0 billion (USD 3.9 billion), up by 5.3%, and operating profit reached JPY 20.4 billion (USD 0.14 billion), ramping up by 27.7%. For profit attributable to owners of parent, the company reversed the loss in 2023 to a strong profit of JPY 29.9 billion (USD 0.2 billion).

In 2024, both the retail and workplace businesses achieved their operating profit plans.The retail business saw increased operating profits in both domestic and overseas business. Overseas business turned profitable in the second half, marking a significant improvement from the previous year.

Regarding Workplace Solutions, the business showed significant improvement since 2020, secured stable profitability from 2023 onwards, and recovered from the decline caused by supply-demand balance adjustments in the fourth quarter of 2024. Consequently, the segment achieved a net sales of JPY 247.1 billion (USD 1.68 billion) and an operating profit of JPY 12.2 billion (USD 82.9 million). Overseas sales accounted for nearly 95% of the total, with Americas contributing sales worth of JPY 112.0 billion (USD 0.76 billion), almost half of the sum.

Looking forward, Toshiba expects improved operating profit by approximately 20% compared to 2024 before the impact of tariffs. However, impacts measures to deal with additional tariffs and reduced revenue due to market uncertainty mainly in the U.S. are difficult to be predicted. Therefore, by the time of the announcement of the financial results, Toshiba has not issued the forecasts for FY2025.

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