Toshiba sees record profit as other businesses offset nuclear weakness

TOKYO Thu May 8, 2014 2:47am EDT

TOKYO May 8 (Reuters) - Japan's Toshiba Corp on Thursday forecast record operating profit this business year as buoyant sales of power grid equipment and robust income from flash memory chips offset weakness in its nuclear reactor business.

Toshiba, one of the world's leading suppliers of flash memory chips used in smartphones and tablet computers, forecast operating profit of 330 billion yen ($3.24 billion) in the year ending March 31.

That was lower than an average estimate of 355 billion yen from 22 analysts surveyed by Thomson Reuters. In the business year just ended, the Japanese infrastructure company posted an operating profit of 291 billion yen, 47 percent higher than the previous year. ($1 = 101.7150 Japanese Yen) (Reporting by Tim Kelly; Editing by Edwina Gibbs)