Toshiba has cut by more than half the amount of money it expects to have lost in the financial year just ended.
The company, which is one of Japan's largest electronics companies, said it expects a net loss of
Sales are expected to come in at
Toshiba said the revisions come as a result of the benefits of cost-cutting programs and higher profitability in its digital product, electronic component and home appliance businesses.
The businesses named cover Toshiba's consumer electronics, PC, mobile device, storage device, semiconductor, and LCD panel sectors but the company declined to offer more specific information on which sectors are doing well.
While Toshiba still expects to lose money this year, the losses are far less severe than those seen in the fiscal year from April 2008 to March 2009. Then the company reported a net loss of
Toshiba will announce full year results on May 7.