Toshiba loses nearly 100 billion yuan in annual losses due to taxation due to the sale of chip business

Toshiba expects a loss of 110 billion yen for the fiscal year ending in March of the next year, which was previously estimated to be a profit of 230 billion. Toshiba kept its operating profit and revenue forecast for the full year unchanged, saying that the revised forecast was due to a tax impact of 340 billion yen due to the spin-off of the chip business. The previous forecast did not include this item.

Toshiba reiterated that the sale of its chip business will help restore its net worth, and the company plans to announce its second-quarter results on November 9, saying that it has recorded "good performance."

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