TOKYO: Toshiba Corp on Friday said extensive restructuring helped the Japanese conglomerate swing to its first operating profit in six quarters, signalling recovery from a US$1.3 billion accounting scandal that unmasked underperforming operations.
Toshiba, whose output is as diverse as consumer electronics and nuclear power reactors, reported profit of 20.1 billion yen (US$196.90 million) for April-June. That compared with a year-earlier loss of 6.5 billion yen, and missed the Starmine SmartEstimate of a 33.5 billion yen in profit based on 5 analyst estimates.
Earlier on Friday, the Nikkei business daily reported the result as 20 billion yen, which Toshiba subsequently said was “close”.
The conglomerate kept its outlook for the financial …
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