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Business trends

Returning Toshiba CEO looks to enhance corporate value in new year

Company predicts $1.5bn profit this year on COVID recovery

'My most important mission is to make the utmost efforts to earn the trust and improve relationships with all stakeholders,' Toshiba's returning CEO Satoshi Tsunakawa emphasized at an online conference on Friday.

TOKYO -- Toshiba posted a 104.4 billion yen ($953 million) operating profit in the fiscal year ended March, down 20% from the previous year as the COVID-19 pandemic hit the Japanese industrial conglomerate's bottom line, the company said Friday.

Toshiba's operating profit recovered in the January to March quarter, reversing a loss in the April to June quarter last year.

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