Toshiba Tec financials exceed expectations
May 14, 2018
The company has published its consolidated results for FY2017, with the figures proving better than anticipated.
The company’s net sales totalled ¥513.3 billion ($4.68 billion/€3.90 billion), an increase of ¥15.7 billion ($143.3 million/€119.5 million) on the FY2016 figure and ¥8.3 billion ($75.7 million/€63.2 million) higher than the forecast of ¥505 billion ($4.61 billion/€3.84 billion).
There was similar good news for Toshiba Tec’s operating income, which had been predicted to reach ¥20 billion ($182.5 million/€152.3 million) but in actuality came in at ¥24.5 billion ($223.6 million/€186.6 million) – with both the target and the result comfortably topping FY2016’s ¥14.6 billion ($133.3 million/€111.1 million).
In ordinary income, too, the target (of ¥18 billion ($164.3 million/€137 million)) was beaten, with the FY2017 figure reaching ¥22.8 billion ($208.1 million/€173.6 million), up from ¥12.5 billion ($114.1 million/€95.2 million) in the year before.
In the company’s Printing Solutions Business Group, however, it was not quite as positive, with net sales coming to ¥200 billion ($1.82 billion/€1.52 billion) – just shy of the ¥203 billion ($1.85 billion/€1.54 billion) forecast. This was still, however, an improvement of 2016’s figure of ¥189.1 billion ($1.72 billion/€1.44 billion).
Operating income in the Printing Solutions segment also came in just under the forecast of ¥7.5 billion ($68.4 million/€57.1 million), at ¥7.3 billion ($66.6 million/€55.6 million), but once again considerably higher than FY2016’s operating income of ¥3.4 billion ($31 million/€25.9 million).
Looking ahead to the FY2018, Toshiba Tec seems to not anticipate its trajectory continuing unchecked, with forecasts for net sales, operating income, and ordinary income all being lower than FY2017’s results – at ¥500 billion ($4.56 billion/€3.80 billion), ¥18 billion ($164.3 million/€137.1 million), and ¥15 billion respectively ($136.9 million/€114.2 million).
Categories : City News
Tags : Financials FY2017 Japan OEM Toshiba Tec
