Toshiba's Q3 profit doubles, extraordinary meeting set for March 18

TOKYO: Toshiba Corp on Friday reported a 99.6% jump in third-quarter operating profit, boosted by strong demand for power management chips amid a global chip shortage.

The Japanese industrial conglomerate also said it would hold an extraordinary shareholders meeting on March 18, as demanded by two large shareholders over governance-related issues.

Toshiba posted an operating profit of 20.9 billion yen ($199.45 million) for the October-December quarter, up from 10.47 billion yen a year prior.