Toshiba Reports Steady Growth in Q3

Toshiba Reports Steady Growth in Q3

Toshiba has disclosed its financial performance for the third quarter of fiscal year 2024, showing an increase in revenue and profit compared to the same period last year.

For the first nine months of FY2024, the company recorded net sales of JPY 425.5 billion (USD 2.8 billion), marking a JPY 28.8 billion (USD 190 million) increase from the previous year. Operating profit rose to JPY 11.8 billion (USD 78 million), up JPY 2.3 billion (USD 15 million), while net profit attributable to owners of the parent saw a significant turnaround from a loss of JPY 14.7 billion (USD 97 million) last year to a profit of JPY 27.2 billion (USD 180 million).

The Workplace Solutions Business Group, which includes Toshiba’s multifunction printers and related services, generated net sales of JPY 183.4 billion (USD 1.2 billion) in the first nine months of FY2024, reflecting a JPY 7.3 billion (USD 48 million) increase year-on-year. However, operating profit declined to JPY 8.4 billion (USD 55 million), down JPY 1.4 billion (USD 9 million) from the previous year. The decline was largely due to foreign exchange fluctuations and increased operational costs.

Despite these challenges, Toshiba continued investing in workplace solutions, enhancing its e-BRIDGE technology for MFPs, which improves print management and business continuity solutions. Additionally, the company has been expanding its MFP-RFID solutions, integrating RFID technology with printing devices to streamline manufacturing and logistics operations.

Toshiba has maintained its full-year forecast for FY2024, expecting net sales of JPY 572 billion (USD 3.8 billion) and operating profit of JPY 18 billion (USD 120 million). The company anticipates steady growth in the Workplace Solutions Business as it strengthens digital transformation initiatives and expands print management services globally.

Related:

• Toshiba Unveils Next-Gen Barcode Labeling Thermal Printers
• Toshiba Provides New Printing Solution for Hospitality Services
• Toshiba Introduces Compact Multifunction Printer for SMBs
• Toshiba to Raise MFP Prices
• Toshiba Records Profit Surge in Q1 2024

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