Toshiba has warned that its full-year figures will be hit by difficult trading conditions. The company revealed a $640 million loss for the three months from October to December. The company expects a full-year loss of $2 billion.
Toshiba has downgraded its financial forecast for the year ending March 2002 as it unveiled its performance in the third quarter. Total sales for the third quarter were down 13% year on year to JPY,213.3 billion ($9 billion). Net losses, which were deepened by restructuring costs, were JPY84.9 billion ($640m) down from a JPY11.1 billion ($80m) profit last year. The company saw sales decrease across all its businesses. Unsurprisingly, the biggest slip, 31%, came at its electronic devices and components business, which was battered by the downturn in the memory market. Sales are now expected to hit JPY5,360 billion ($40 billion), JPY100 billion ($750m) less than forecast, while the expected net loss will be JPY260 billion ($2 billion), not the JPY200 billion ($1.5 billion) originally expected.