Toshiba has announced that better-than-anticipated sales in several key product sectors are likely to see it report higher sales and profits than previously forecast.
The company reported that sales of information and communication systems, mobile phones and PC peripheral equipment are continuing the growth experienced in the latter half of the previous fiscal year, while semiconductor sales are climbing on the back of increased demand for chips for cellular telephones, DVD-ROM drives and personal computers, Toshiba said in a statement.
The company said it expects group consolidated sales in the current fiscal year, the period to March 31, 2001, to be 6.24 trillion yen ($US57.8 billion), 2.3 per cent higher than the previous forecast of 6.1 trillion yen. Should Toshiba meet the targets, it will represent an 8.5 per cent increase on its results for fiscal 1999. Net income is expected to be 135 billion yen, up from a 28 billion yen loss last year.
In the first half of the current fiscal year, the period to September 30, consolidated sales are forecast to be 2.9 trillion yen, up 10.5 per cent on the same period a year earlier, while net income is predicted to come in at 50 billion yen against a 48.3 billion yen loss in the previous year.
At parent company level, non-consolidated sales for the full year are forecast at 3.96 trillion yen, up 13 per cent on the year, and net income is expected to be 70 billion yen from a loss of 244.5 billion yen in the last year.