to-the-point: Toshiba’s energy division turns to op loss in fiscal Q1
Toshiba Corp (TYO:6502) saw its Energy & Infrastructure business segment swing to a JPY-10.7-billion (USD 89m/EUR 79m) operating loss in April-June 2015, its first fiscal quarter, from a JPY-10-billion profit a year back.
In a statement on Monday, the Japanese industrial conglomerate explained the drop in profitability with a decline in the performance of its thermal, hydropower, photovotaic (PV), railroad and mostry nuclear power sub-divisions. The higher operating profit recorded by Toshiba’s smart metering unit Landis+Gyr was not enough to offset these declines.
Net sales at Energy & Infrastructure stood unchanged at JPY 395 billion, thanks to higher revenues from Transmission and Distribution systems and Landis+Gyr. Solar PV systems booked fewer sales than in January-March 2014, Toshiba noted.