Toshiba logs $317.7 million net loss in FY 2014

Toshiba logs $317.7 million net loss in FY 2014
Highlights

Japan\'s Toshiba Corporation logged 37.83 billion yen (about $317.7 million) group net loss for the past fiscal year through March due to asset impairment charges and other losses, local media reported on Monday.

Japan's Toshiba Corporation logged 37.83 billion yen (about $317.7 million) group net loss for the past fiscal year through March due to asset impairment charges and other losses, local media reported on Monday.


The high-tech giant had planned to release earnings on August 31, however, a serious of accounting irregularities forced it to postpone the results twice, Xinhua news agency reported.

In fiscal 2013, it reported a net profit of 60.24 billion yen ($505.47 million).

Toshiba also saw operating profit down from the previous year, which decreased 33.7 percent to 170.4 billion yen, while sales up 2.6 percent to 6.66 trillion yen ($55.88 billion).

The company did not give an earnings outlook for the current business year through next March.
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