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Toshiba swung into the red in its third financial quarter and slashed its full-year profit outlook, blaming the strong yen, flooding in Thailand and losses from its TV-set business.
The Japanese conglomerate, which makes consumer electronics, semiconductors and nuclear power plants, posted a net loss of 10.6 billion yen (A$130 million) for the three months through December, compared with a profit of 12.37 billion yen a year earlier. Revenue fell 9.3 percent to 1.441 trillion yen.
Fujitsu also posted a loss and cut its forecast for the year, further signaling the harsh environment for Japanese companies.
The Thai flooding, which damaged factories and disrupted supply chains, came as Japanese technology firms already were struggling with the yen’s strength against both the dollar and the euro.
