Toshiba Corp. posted a second-quarter loss that was twice as wide as analysts' forecasts and pared its estimate for full-year sales on lower demand for factory equipment and home appliances. The Tokyo, Japan-based company had a net loss of 7.6 billion yen
(U.S. $61.5 million) in the 3 months ended Sept. 30, compared with a net loss of 89.7 billion yen in the same period a year ago. The loss exceeded analysts' average forecast of 3.83 billion yen. Sales rose 7 percent to 1.44 trillion yen in the quarter.
Toshiba narrowed its loss by shuttering unprofitable plants
and cutting jobs last year. The company increased its forecast for chip sales in the second half after first-half sales exceeded its expectations. (Bloomberg News)
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