Toshiba made an operating loss of 4.8 billion yen in the first quarter, the first quarterly loss in two years.

CTOnews.com August 10 news, Toshiba today announced the first quarter of fiscal results to the end of June. Due to global chip shortages and rising raw material costs, Toshiba posted an operating loss of 4.8 billion yen in the first quarter, the first quarterly loss in two years, and a net profit of 14.5 billion yen a year earlier.

Analysts had expected a profit of 19.4 billion yen for the quarter. In the first quarter, Toshiba's net profit was 25.89 billion yen, up 44% from the same period last year. Market analysts expected a median net profit of 22.85 billion yen. Net sales for the quarter were 740.65 billion yen, up 1.8% from the same period last year. Market analysts had a median forecast of 751.3 billion yen.

Toshiba pointed out that the sharp increase in logistics costs was also one of the main reasons for the loss in the last quarter, which led to a sharp drop in operating profit of 9.4 billion yen. As for the shortage of chips, it also caused a shortfall of 3 billion yen. Toshiba, which is likely to be bought out and delisted, maintains a profit forecast of 170 billion yen this fiscal year and is expected to grow by 7 per cent a year if it meets the target.

Toshiba's future is being determined by two rounds of bids from foreign funds such as Bain Capital and domestic corporate funds backed by the Japanese government. CTOnews.com learned that it would cost as much as $22 billion to buy Toshiba, so it would take a number of companies to work together to complete the purchase.

Looking forward to the whole year, Toshiba maintains its full-year operating profit forecast of 170 billion yen, while market analysts have a median forecast of 188.5 billion yen. Full-year net sales are expected to remain at 3.30 trillion yen, while market analysts' median forecast is 3.32 trillion yen.