Send PM
Followers 8
Posts 737
Boards Moderated 0
Alias Born 05/03/2007

Re: None

Thursday, 05/08/2008 11:29:43 AM

Thursday, May 08, 2008 11:29:43 AM

Post# of 18
Toshiba aims to double profits over three years: president

26 minutes ago

TOKYO (AFP) — Japan's Toshiba Corp. said Thursday that it aims to more than double operating profit over the next three years as it focuses on semiconductors and nuclear power plants after defeat in a DVD format war.

The upbeat forecasts came despite growing headwinds for Japan's technology giants amid fierce global price competition and a stronger yen, which is bad for overseas earnings.

Toshiba is targeting an operating profit of 500 billion yen (4.8 billion dollars) in the year to March 2011, up from 238.1 billion last year, when earnings slipped amid tough competition, president Atsutoshi Nishida told reporters.

Toshiba, which recently called it quits in a next-generation DVD format war, is targeting revenue of 10 trillion yen, up from 7.67 trillion last year.

"We aim to achieve high growth and profits in all business domains and reinforce our global business expansion," said Nishida.

The group plans capital spending of 2.2 trillion yen on new plants and equipment over the next three years, up from about 1.7 trillion yen over the previous three years, to expand its semiconductor and nuclear power businesses.

It will spend a further 1.4 trillion yen on research and development.

Toshiba is a leading manufacturer of NAND flash memory chips that are used in iPods and other digital music players, and recently announced plans to invest 1.8 trillion yen along with US partner SanDisk Corp in a new factory in Japan.

The Japanese giant aims for a 40 percent rise in sales of electronic devices over the next three years, and a similar increase in digital products such as televisions and computers.

It plans to boost exports to offset sluggish domestic demand.

Toshiba, which bought US nuclear plant maker Westinghouse Electric from British Nuclear Fuels in 2006, said it hopes to sell 33 nuclear reactors by 2015.

"The US market has acknowledged Toshiba's entry into the nuclear power business," said Nishida. "US companies, which until didn't know about Toshiba, approached us for strategic talks," he added.

Toshiba said it will hire 16,000 more workers overseas over the next three years as it expands manufacturing hubs in emerging economies in Asia, Latin America and Eastern Europe.

Day Range:
Last Trade Time:
Total Trades:
  • 1D
  • 1M
  • 2M
  • 3M
  • 6M
  • 1Y
  • 2Y
  • 3Y
  • 5Y
Recent TOSBF News

Nextech AR Reports Q3 3D-Model Production Jumps 110% and Sees Strong Continued Demand in Q4 NTAR Oct 5, 2022 10:00 AM

Memorandum of Understanding Signed by Miranda Water Treatment Systems and Rainmaker Worldwide Inc. RAKR Oct 5, 2022 9:02 AM

Trend Innovations Holding Inc. completes Thy News localization testing successfully TREN Oct 5, 2022 9:00 AM

Branded Legacy, Inc. Acquires Alpha Growers, LLC and Adds $320,000 in Assets BLEG Oct 5, 2022 8:45 AM

Glitzy LA luxury private cigar club planned for two blocks from the Walt Disney Concert Hall Oct 4, 2022 6:15 PM

'Posh' brand funding round for all things cannabis kicks off with S.E.C. enrollment for capital raise Oct 4, 2022 5:38 PM

NFL Great, Drew Brees, to Team with Splash Beverage Corp to Promote TapouT Performance Drink SBEV Oct 4, 2022 12:34 PM

Good Gaming Inc. Announces Its Reveal Event For The Water Bear PFP, The First of Ten Species That Make Up The Genesis Collections And Their Cross Platform "Buddyverse" GMER Oct 4, 2022 9:15 AM

Quinting - a luxury Swiss watch brand partners Coinllectibles to launch Digital Ownership Tokens (DOTs) valued at more than US$450,000 at the Global Web 5.0 Conference in Singapore on 1 Nov 2022 COSG Oct 4, 2022 8:03 AM

Swifty Global Gets Swifty Gaming Off to a Flying Start and Updates its Annual Revenue Target DRCR Oct 3, 2022 10:29 AM

Branded Legacy, Inc. Products Now Featured in New Brick and Mortar Location BLEG Oct 3, 2022 9:26 AM

TNS Reports, These Four Stocks have New Developments that Could Equate to Big Catalysts INND Oct 3, 2022 8:14 AM

TNS Reports on Stocks with Potential Near-Term Catalysts in the Works SYSX Oct 3, 2022 8:08 AM

IGEN's Nimbo Tracking adds four new dealerships and 1250 vehicles across three states in Third Quarter 2022 IGN Oct 3, 2022 6:00 AM

ILUS Confirms Share Lock-Up Opportunity ILUS Sep 29, 2022 1:25 PM