Toshiba 9M Profit Climbs; Lifts FY21 Net Profit View, Cuts Operating Income Forecast; Stock Down

Japanese conglomerate Toshiba Corp. (TOSYY.PK,TOSBF.PK) reported Monday that its nine-month net income to shareholders increased to 114.9 billion yen from 43.6 billion yen a year ago.

Earnings per share were 259.60 yen, up from 96.15 yen last year.

Operating income grew to 87.6 billion yen from prior year’s 24 billion yen. EBITDA improved to 152.4 billion yen from last year’s 87.6 million yen. EBITDA margin grew 2.3 percentage points to 6.5 percent from 4.2 percent last year.

Net sales increased 12 percent to 2.36 trillion yen from 1.20 trillion yen in the previous year.

The company generated higher sales in all business segments and increased operating income in mainly semiconductors and energy business.

Orders received increased by 11 percent.

Further, the company revised FY2021 operating income forecast due to further visible impact of soaring material cost and logistics cost, and semiconductor shortage.

For the year, the company now expects operating income of 155 billion yen, compared to previous forecast of 170.0 billion yen. In the past year, operating income was 104.4 billion yen.

Net sales for the year are now expected to be 3.34 trillion yen, down 10 billion yen from previous forecast. The fiscal 2020 sales were 3.05 trillion yen.

However, the company now projects attributable net income of 1.10 trillion yen, 20 billion yen higher than previous view, while last year’s profit was 1.16 trillion yen.

In Japan, Toshiba shares were trading at 4,489 yen, down 2.35 percent.

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