Toshiba can’t seem to get its facts straight.
Despite making loose promises that its profits could rise by 25 percent by March next year, it’s also warning that this may not happen due to the Japan earthquake earlier this year.
The company’s unhelpful forecasts come as it today reported a net profit of
137.8 billion yen ($1.7 billion) for March 2010 to 2011.
This was up from a loss of 19.7 billion yen a year earlier, while its operating profit nearly doubled to 240.3 billion yen ($2.98 billion) on revenue of 6.4 trillion yen ($79.3 billion). The main money growers for the company were television sets and memory chips, used in smartphones and tablets.
However, it’s not all looking rosy for the company, which has said that some of the plants affected by the earthquake won’t be up and running until October of this year. As a result, it hopes that by March next year it will have won back clients who could have moved elsewhere as a result of short supplies. For the year to March 2012, it forecast a net profit of 140 billion yen ($1.7 billion), an operating profit of 300 billion yen on revenue of 7.0 trillion yen ($87 billion) .
Toshiba hasn’t been very lucky in terms of quake damage. It was forced to close its chip-making factory in Iwate Prefecture, which still isn’t in full working order, and it’s also concerned that any blackout or problem now, could set it back further.