ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Toshiba expects 16% drop in FY2020 operating profit due to virus

Coronavirus pandemic hits demand for industrial products and delays production

Nobuaki Kurumatani, president and CEO of Toshiba, announces the conglomerate's financial results online. (Screenshot from Toshiba website) 

TOKYO (Kyodo) -- Toshiba Corp. said Friday it expects a 15.7 percent drop in operating profit for fiscal 2020 to 110 billion yen ($1 billion) as the coronavirus pandemic will hit demand for its industrial products and delay the recovery to full production.

The industrial conglomerate also projects its sales to fall 6.2 percent to 3.18 trillion yen. For the current business year through March next year, it estimates the pandemic to reduce operating profit by 90 billion yen, including 46 billion yen in the April-June quarter.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more