Profit at Toshiba’s key chips division likely to beat current forecast: Executive

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Tokyo | December 16, 2016 4:10 PM

Toshiba Corp expects its chips and devices division, its biggest profit driver, to beat its current annual earnings forecast, helped by a weaker yen and strong demand for flash memory chips, the head of the division said.

Toshiba, Yasuo Naruke, flash memory chips, yenToshiba Corp expects its chips and devices division to beat its current annual earnings forecast. (Reuters)

Toshiba Corp expects its chips and devices division, its biggest profit driver, to beat its current annual earnings forecast, helped by a weaker yen and strong demand for flash memory chips, the head of the division said.”It is highly likely that the division’s profit will overshoot the current forecast,” Yasuo Naruke, the senior executive vice president in charge of the business, told Reuters in an interview on Friday.

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Toshiba just last month forecast that the division will generate an operating profit of 130 billion yen ($1.1 billion)for the financial year to end-March.

That accounts for the bulk of the company’s overall operating profit forecast of 180 billion yen.Naruke also said that Toshiba expects to invest around 1 trillion yen in its flash memory chips business for the three years from April 2019, up from 860 billion yen for the three years prior.

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