Toshiba to cut year operating profit forecast: Nikkei

[NEW YORK] Toshiba will cut its year operating profit forecast to between 20 billion and 30 billion yen (S$244 million and S$366 million) from the 60 billion-yen projection it made in November, Nikkei Asian Review reported, without saying where the information came from.

Increased costs in sectors like energy are dragging down earnings from core operations, the report said.

Toshiba will maintain its medium-term plan targeting 400 billion yen in operating profit by the year ending March 2024

Toshiba is expected to report earnings on Feb 12

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