Toshiba announced its group-wide financial results for the nine-month period from April to December last year, with a final loss of 107 billion yen due to the deterioration in the performance of Kioxia, a major semiconductor company in which it invests.
The company plans to review its business plan by May this year.
Toshiba announced on the 28th the group's financial results for the nine months from April to December last year:
Sales were 2,256.7 billion yen, a 4.8% decrease compared to the same period the previous year.
▽The final profit and loss was a deficit of 107 billion yen, a complete turnaround from the surplus of 84 billion yen during the same period the previous year.
A major factor was that Kioxia Holdings, a major semiconductor company in which we hold about 40% of the company's shares, posted a net loss of 254 billion yen in its financial results for the nine months ending in December last year.
Toshiba accepted an acquisition by a domestic investment fund and went private in December of last year.
The company plans to rebuild its management under a new system with increased management freedom, and plans to review its management plan, including measures to improve profits and growth strategies, by May this year.