Japan’s Toshiba Corp said it expects to post an operating profit this financial year after a big loss last year on large writedowns and restructuring costs in the wake of a damaging accounting scandal.
The industrial conglomerate forecast an operating profit of 120 billion yen ($1.10 billion) for the current financial year.
It booked an operating loss of 719.1 billion yen for the year just ended, hurt in particular by a $2.3 billion writedown on its U.S. nuclear unit Westinghouse to address lingering doubts over its accounting practices.
A $1.3 billion book-keeping scandal last year pushed Toshiba to axe 14,000 jobs, sell its medical equipment business to Canon Inc and its white goods unit to Chinese household appliance giant Midea Group Co Ltd.
