RNS Number:4324Q
Toshiba Corporation
19 March 2008
March 19, 2008
Atsutoshi Nishida, President & CEO
Toshiba Corporation
1-1-1 Shibaura, Minato-ku, Tokyo, Japan
Contact: Naoto Hasegawa, General Manager,
Corporate Communications Office
Phone: 81 3 3457 2096
Notice of Revised Business Forecast
Toshiba Corporation today announced the following revision to its business
forecast for FY2007, ending March 31, 2008. This replaces the previous forecast
announced on October 29, 2007.
1. Revised Forecast
Consolidated forecast for FY2007 (April 1, 2007 - March 31, 2008) (billion yen)
(A) (B) (A)-(B) (A)/(B) FY2006
Revised Forecast Previous Forecast
(Mar. 19, 2008) (Oct. 29, 2007)
Net sales 7,700.0 7,800.0 -100.0 -1.3% 7,116.4
Operating income (loss) 230.0 290.0 -60.0 -20.7% 258.4
Income (loss) before 250.0 350.0 -100.0 -28.6% 298.5
income taxes and minority
interest
Net income (loss) 125.0 180.0 -55.0 -30.6% 137.4
Non-consolidated forecast for FY2007 (April 1, 2007 - March 31, 2008) (billion yen)
(A) (B) (A)-(B) (A)/(B) FY2006
Revised Forecast Previous Forecast
(Mar. 19, 2008) (Oct. 29, 2007)
Net sales 3,700.0 3,900.0 -200.0 -5.1% 3,544.9
Recurring profit (loss) 70.0 140.0 -70.0 -50.0% 98.1
Net income (loss) 65.0 130.0 -65.0 -50.0% 72.4
2. Reasons for the Revision
Net sales are expected to be lower than previously forecast, reflecting the
discontinuation of the HD DVD business and the decline in sales prices of NAND
flash memories.
While the PC business and Social Infrastructure segment are moving forward
strongly, the Semiconductor business has seen a significant decrease in
operating income due to a larger than anticipated declines in sales prices of
NAND flash memories. Given this, the overall operating income is anticipated to
see a decrease from the previous forecast. Income before income taxes and
minority interest and net income are also expected to decrease from the previous
forecast, primarily on costs incurred in the discontinuation of the HD DVD
business.
To view the full text of this press release, click on the following link:
http://www.rns-pdf.londonstockexchange.com/rns/4324q_-2008-3-19.pdf
Cautionary statements
This report contains forward-looking statements concerning future plans,
strategies and the performance of Toshiba Group. These statements are based on
management's assumptions and beliefs in light of the economic, financial and
other data currently available. Furthermore, they are subject to a number of
risks and uncertainties. Toshiba therefore wishes to caution readers that actual
results may differ materially from our expectations. Major risk factors that may
have a material influence on results are indicated below, though this list is
not necessarily exhaustive.
• Disputes including lawsuits in Japan and other countries
• Success or failure of alliances or joint ventures promoted in
collaboration with other companies;
• Success or failure of new businesses or R&D investment;
• Changes in political and economic conditions in Japan and abroad;
unexpected regulatory changes;
• Major disasters, including earthquakes and typhoons;
• Rapid changes in the supply/demand situation in major markets and
intensified price competition;
• Significant capital expenditure for production facilities and rapid
changes in the market;
• Changes in financial markets, including fluctuations in interest
rates and exchange rates.
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This information is provided by RNS
The company news service from the London Stock Exchange
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