Toshiba Issues Revised Business Forecasts for FY2001
27 August, 2001
TOKYO--Toshiba Corporation today issued revised consolidated and non-consolidated business forecasts for the first half and full fiscal year to March 31, 2002. The company also announced its planned interim dividend for the first half of the current fiscal term.
- Consolidated forecast
Today's announcement revises downwards the forecast that Toshiba issued with the announcement of its results for the last fiscal year, on April 27, 2001. The key points are as in the table below.
(1) 1st Half FY2001 (Apr. 1st, 2001 through Sept. 30, 2001)
(2) FY2001 (Apr. 1st, 2001 through Mar. 31, 2002)
- Non-consolidated forecast
Today's announcement revises downwards the forecast that Toshiba issued with the announcement of its results for the last fiscal year, on April 27, 2001. The key points are as in the table below.
(1) 1st Half, FY2001 (Apr. 1st, 2001 through Sept. 30, 2001)
(2) FY2001 (Apr. 1st, 2001 through Mar. 31, 2002)
- Reasons for revision
The dramatic economic slowdown that began in the US at the end of 2000 is becoming a global phenomenon that has undermined worldwide demand for IT. Toshiba's revised forecasts reflect this, particularly lower demand electronic components for digital devices. Accordingly, both consolidated and non-consolidated sales and profit targets have been significantly revised downward against the original forecasts. The company also anticipates a 120 billion yen restructuring charge in its consolidated basis.
- Planned Interim dividend for 1H/FY2001
In accordance with the revisions described above, the board of Toshiba today decided to cancel its interim dividend, which had been set at 5 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 also 5 yen per share for the last fiscal year, is yet to be decided.
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