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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.

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