Japan's Toshiba logs 70pc profit dive, cuts forecasts

TOKYO: Japan's Toshiba on Tuesday more than halved its net profit forecast for the year to March as it reported a 70 percent dive in nine-month profit on a strong yen and slack sales of digital products.

Group net profit came to 12.1 billion yen ($158 million) in the April-December period, down 70.0 percent from the same period in 2010. It slashed its full-year net profit forecast to 65 billion yen from 140 billion yen.

Copyright AFP (Agence France-Presse), 2012