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WHOLESALE DISTRIBUTOR OF COMPUTER HARDWARE AND CONSUMER ELECTRONICS
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Toshiba: Earnings Release FY2009 First 9 Months and Q31. Consolidated results for the first 9 months of FY2009 (billion yen)
Toshiba’s consolidated net sales for the first nine months of FY2009 were 4,534.1 billion yen, a decrease of 448.9 billion yen from the same period of the previous year, a result reflecting the yen’s appreciation and the recession. Despite this, consolidated operating income (loss) returned to the black to the tune of 12.9 billion yen, an improvement of 189.1 billion yen against the same period of the previous year. Electronic Devices recorded a substantial improvement, and Digital Products and Social Infrastructure achieved higher profit. The loss from continuing operations before income taxes and noncontrolling interests improved by 137.4 billion yen to -45.8 billion yen. The net loss attributable to shareholders of the Company improved by 91.3 billion yen to -68.3 billion yen. 2. Financial Position and Cash Flows for the First Nine Months of FY2009 Total assets increased by 139.0 billion yen from the end of March 2009 to 5,592.2 billion yen. Shareholders’ equity, or equity attributable to the shareholders of the Company, increased to 737.9 billion yen, an increase of 290.6 billion yen from the end of March 2009, despite a net loss attributable to shareholders of the Company of -68.3 billion yen. This reflects the capital increase from a June 2009 public offering, as well as an improvement in accumulated other comprehensive income (loss) of 46.2 billion yen due to gains on recovery in the stock market prices. Total debt decreased by 419.7 billion yen from the end of March 2009 to 1,391.0 billion yen. As a result of the foregoing, the shareholders’ equity ratio at the end of December 2009 was 13.2%, a 5.0-point improvement from the end of March 2009, and the debt-to-equity ratio at the end of December 2009 was 189%, a 216-point improvement from the end of March 2009. Free cash flow was 96.9 billion yen, a 491.4 billion yen improvement over the same period of the previous year. The improvement in net loss attributable to shareholders of the Company and working capital turned cash flows from operating activities positive, and payments for acquisition of tangible fixed assets declined against the same period of the previous year. 3. Performance Forecast for FY2009 Projections for Toshiba’s overall consolidated sales have been influenced by the global recession, which has proved to be more persistent than expected, and they are projected to fall short of the forecast announced in May 8, 2009. The Company has revised its business forecast for FY 2009, ending March 31, 2010 as follows. The forecast for overall consolidated operating income (loss) remain unchanged from that announced on May 8, 2009. Although Electronic Devices is seen as substantially improving on the forecast, due to increased demand and price stability in NAND Flash memories, the continuing global recession is projected to cause a decrease in operating income in segments other than Electronic Devices. In light of this, Toshiba has revised its forecasts by industry segment for FY2009, as below. FY2009 (April 1, 2009 - March 31, 2010) (billion yen)
FY2009 (April 1, 2009 - March 31, 2010) by Industry Segment (billion yen)
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