1. Toshiba Corporation reports Q1 operating loss on weak PC, TV sales

Toshiba Corporation reports Q1 operating loss on weak PC, TV sales

Toshiba Corporation swung to a first-quarter operating loss on weak PC and TV sales, raising pressure on its new chief executive, who is already tasked with improving governance after a $1.3-billion accounting scandal.

By: | Tokyo | Published: September 14, 2015 12:43 PM
toshiba sales

Toshiba reported an April-June operating loss of 10.96 billion yen ( million) compared with a 47.7 billion yen profit a year earlier, according to a filing on Monday.(Reuters)

Toshiba Corporation swung to a first-quarter operating loss on weak PC and TV sales, raising pressure on its new chief executive, who is already tasked with improving governance after a $1.3-billion accounting scandal.

Toshiba reported an April-June operating loss of 10.96 billion yen ($91 million) compared with a 47.7 billion yen profit a year earlier, according to a filing on Monday.

The announcement came a week after it reported a 37.8 billion yen net loss for the year through last March to reflect more costs and conservative estimates on operations, including the South Texas Project, a U.S. power plant project. It also said it had overstated profits going back to fiscal 2008/09 by 155 billion yen.

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