Toshiba Tec Revises Results Forecast for Fiscal Year 2021

Toshiba Tec Revises Results Forecast for Fiscal Year 2021

According to Toshiba Tec, the operating profit forecast for the fiscal year 2021 was expected to decline from JPY 15 billion (US$115.35 million) to JPY 11.5 billion (US$88.43 million). The ordinary profit forecast was expected to decline from JPY 12 billion (US$92.28 million) to JPY 10 billion (US$76.92 million), while profit attributable to owners of parent forecast was expected to lower from JPY8 billion (US$61.53 million) to JPY5.5 billion (US$42.30 million).

The forecast for net sales and year-end dividends remain unchanged for the fiscal year 2021.

The decline in operating profit and ordinary profit is due to factors such as semiconductor shortage, soaring prices of components, tightness in international cargo transportation, increased shipping costs and delays in product supply owing to lockdowns in some areas of China.

As Toshiba Tec plans to reverse some deferred tax assets on a non-consolidated basis, profit attributable to owners of parent is expected to decline.

Related:

• Toshiba Tec Corporation Release Results for Q2
• Toshiba Welcomes New CEO
• Toshiba CEO Resigned
• Toshiba Releases New Desktop Label Printers
• Toshiba Promotes New General Manager

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