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Toshiba turns to first Q1 profit in 2 years under interim leader

CEO hopes to appoint new board chair this year as it focuses on governance

Toshiba's management has been in turmoil over the past few months, following years of discontent among activist investors.   © Reuters

TOKYO -- Toshiba turned to profit in the April-June quarter for the first time in two years, as the company faces management shake-ups and governance questions from shareholders.

The Japanese industrial conglomerate generated an operating profit of 14.5 billion yen ($131.3 million) in the first quarter to end-June, up by 27 billion yen from the same period in 2020 during the pandemic.

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