Toshiba Returns to Black

Strong demand for television sets and memory chips

Toshiba, whose business spans consumer electronics and nuclear reactors, reported a net profit of 137.8 billion yen (US$1.7 billion dollars) for the financial year, reversing a bottom line loss of 19.7 billion yen a year earlier.

The company's operating profit nearly doubled to 240.3 billion yen on revenue of 6.4 trillion yen, up 1.7% from the previous year.

The electronics giant said the profit and sales gains were mainly due to strong demand for television sets and its memory chips, which are used in smartphones and tablet computers.

For the year to March 2012, it forecast a net profit of 140 billion yen, an operating profit of 300 billion yen on revenue of 7.0 trillion yen.

But it said "the outlook still remains uncertain" due to the impact of the disasters that paralyzed the economy in northeastern Japan and crippled a nuclear power plant in Fukushima.

Toshiba was forced to close a chip-making factory in Iwate Prefecture in Japan's quake-hit northeast, which has since partially resumed production.

Copyright Agence France-Presse, 2011

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