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Is Toshiba's glass half-empty or half-full?

Embattled Japanese conglomerate breaks 28-year profit record

Toshiba Chief Financial Officer Masayoshi Hirata speaks at an earnings event in Tokyo on Thursday.

TOKYO -- Toshiba posted a record operating profit for the six months ended Sept. 30, but to some this only highlighted the company's precarious position -- 90% of the profit came from memory chip operations it is working frantically to unload by the end of the current fiscal year.

On Thursday, the company reported 231 billion yen ($2.03 billion) in group operating profit for the April-September half, up about 150% from a year earlier and displacing a 1989 record propped up by vigor in such areas as personal computers. Smartphone memory and other such products were drivers this year.

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