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Toshiba Issues Revised Business Forecasts for FY1999

13 September, 1999

TOKYO --Toshiba Corporation today issued revised forecasts for its consolidated and non-consolidated business for the current fiscal year ending March 31, 2000, and announced that it will cancel its interim dividend.

  1. Consolidated forecast
    Today's announcement revises the forecast that Toshiba issued with the announcement of its results for the last fiscal year, on May 25, 1999. The key points are as in the table below.

    (¥billion)

  2. Non-consolidated forecast
    Today's announcement revises the forecast that Toshiba issued with the announcement of its results for the last fiscal year, on May 25, 1999. The key points are as in the table below.

    (1) 1st Half/FY1999 (Apr. 1st, 1999 through Sept. 30, 1999) (¥billion)

    (2) FY1999 (Apr. 1st, 1999 through Mar. 31, 2000) (¥billion)

  3. Reasons for revision
    The revised forecasts reflect lower prices for 64-megabit and 128-megabit DRAMs and other semiconductor memories than originally expected; lower profitability of logic and system LSIs; realignment of semiconductor production facilities, decomissioning of aging facilities, and compression of inventories undertaken to achieve a reform of semiconductor operations.

    Toshiba will focus on improved business performance through further efforts to reinforce and improve semiconductor operations by advancing a shift to high-value added memory products; increased production of NAND flash memories; and reforming its system LSI business organizations and implementing company-wide contingency programs.

  4. Revision of interim dividend for 1H/FY1999
    In accordance with the revisions described above, the board of Toshiba today decided to cancel its interim dividend, which had been set at 3 yen per share, the level for the same term of the previous year. The dividend payment for the end of the current fiscal year, which was 3 yen per share for the last fiscal year, is yet to be decided.

Information in the press releases, including product prices and specifications, content of services and contact information, is current on the date of the press announcement,but is subject to change without prior notice.