Toshiba cuts sales, operating profit forecast on quake

TOKYO: Japan's Toshiba on Tuesday said its sales and operating profit forecast for the financial year ended March would fall short of earlier projections due to last month's earthquake and tsunami.

Toshiba lowered its sales and operating profit forecast due to the impact of the March 11 disasters and the power supply problems they triggered, forcing some domestic plants to shut down and lowering production.

The company now expects to post an operating profit of 240 billion yen ($2.9 billion), a four percent decrease from its January forecast for 250 billion yen. It cut its revenue outlook to 6.4 trillion yen from 6.6 trillion.