Toshiba on the comeback trail

JAPAN'S largest chip maker Toshiba has said it made a smaller-than-expected loss in the final three months of last year due to a recovery in its electronic components business.

The company made a net loss of 10.6bn yen (£72.7m) compared with 121.1bn yen a year earlier.

Toshiba’s chip business was hit last year but is on the road to recovery, the company said.

Group revenue for the quarter rose 6 per cent to 1.58 trillion yen, from 1.49tn yen a year earlier.

Toshiba, which supplies chips to Apple, has lowered its yearly revenue target from 6.8tn yen to 6.4tn yen, but
kept its forecast for a 50bn yen loss for the year ending March 2010.

The company described sales of its televisions as “healthy”, but blamed a decline in sales of home
Appliances on the economic downturn.