Toshiba Swings to Net Loss in April-Sept.

Economy

Tokyo, Nov. 13 (Jiji Press)--Toshiba Corp. <6502> said Wednesday that it swung to a consolidated net loss of 145,146 million yen in April-September from the year-before profit of 1,082,136 million yen.

The Japanese machinery and electronics maker was hit by weak earnings at a memory chip company, of which it owns about 40 pct, and losses from the sale of liquefied natural gas operations in the United States.

But operating profit jumped some 7.5-fold to 52,053 million yen due mainly to higher earnings at social infrastructure and building solution operations and the effects of restructuring.

Sales went down 3.7 pct to 1,711,400 million yen.

The board of Toshiba approved plans to take full control of three of its four publicly traded subsidiaries.

[Copyright The Jiji Press, Ltd.]

Jiji Press