The result of this was that Toshiba projected an annual net loss of 110 billion yen ($970 million). But the company has previously said the sale of the prized business should eventually boost the firm's before-tax consolidated income by about 1.08 trillion yen. Sales over the six-month period came in at 2.39 trillion yen, a 5.1-percent rise from the same period a year ago. Over the full year, Toshiba said it was projecting sales of 4.97 trillion yen, as well as a record operating profit of 430 billion yen. The chip unit brought in around a quarter of Toshiba's total annual revenue and is the crown jewel in a vast range of businesses ranging from home appliances to nuclear reactors.

Source: The Nation Bangkok November 09, 2017 06:00 UTC