Toshiba Appliances Sales Down 5% Aug 15, 2012

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Toshiba Corp.'s Home Appliances business reported lower sales and lower operating income in the first quarter of the corporation's first fiscal quarter. The fiscal year for the Tokyo-based corporation ends Mar. 31, 2013.

Home Appliances had net sales of 141.6 billion yen (approx. US$1.8 billion) in the quarter, which was down 7.9 billion yen, or 5%, from the same quarter in the previous year. Operating income in the quarter was 0.1 billion yen, down 1.0% from the same quarter in the previous year.

The Home Appliances business segment of Toshiba saw lower sales in home laundry equipment and refrigerators in the quarter, although industrial air-conditioning sales were up, as were general lighting business sales increase - mainly in LEDs. The corporation said that, while overall Home Appliances segment operating income declined as a result of lower sales of white goods appliances, higher operating income on better sales in air-conditioning helped the segment remain in the black.

The corporation as a whole had net sales of 1,268.9 billion yen in the quarter, down 57.2 billion yen from the same quarter in the previous year.

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