Toshiba Corp has also lowered its parent net profit forecast for the year to March 31, 1991 to $858m from the figure of $897m which it estimated in September. The company has also had to reduce its current profit forecast to $1,560m from $1,677m. Toshiba says that the recent sharp rise in the value of the yen is mainly responsible for the revisions, as it also lowered its operating profit forecast to $1,482m from $1,677. Parent net profit for the six months to September 30 rose very respectably by 31% to $499.3m, and the company attributes this to the healthy sales of information systems and communication equipment. Revenues from the sale of laptop personal computers grew by 60% compared to a year ago, and Toshiba is forecasting sales of $2,340m by the year-end, up from $1,556m a year ago. Sales are estimated at $25,350m, down from the earlier forecast of $25,583m, and the company expects sales of information and communication systems to rise 11% to $14,898m. However, consumer electronics are expected to fall by 3% to $5,070m, while exports are expected to rise 1% to $7,020m. Parent capital spending is forecast to rise to $1,950m from the May estimate of $1,638m, and last year’s figure of $1,536m. About $725.4m will be ploughed into semiconductors while $249.6m will go to benefit liquid crystal displays. These two sums have been increased from earlier forecasts of $491.4m and $171.6m respectively. And last, but by no means least in this industry, research and development will receive $2,028m, an increase on the planned $1,996.8m, and on last year’s $1,818m.
