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Thai floods hurt Toshiba and influence sober outlook

Simon Quicke

Toshiba has become the latest vendor to reveal that the flooding of manufacturing plants in Thailand have impacted results after it reported third quarter numbers and gave a sober forecast of the next trading period.

The floods hit the performance of the electronic devices division which was also compounded by an overall sales decrease, with the worst being felt in the semiconductor operation. PC products held up slightly better helped by cost reductions and lower parts and materials costs.

"The semiconductor business saw a decrease in sales due to sharp yen appreciation, the floods in Thailand, price decreases in memories and a falloff in demand for discrete semiconductors and system LSI," the vendor stated.

Overall net sales were down year-on-year by 147bn Yen to 1.441bn Yen and pre-tax losses worsened by 29bn to 9.7bn Yen.

Looking ahead the vendor said the ongoing uncertainty caused by the changing business environment and the continuing impact of the Thailand flooding with the Eurozone problems meant that it would downgrade expectations. 
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