TOKYO Toshiba Corp. revised Tuesday its operating profit forecast for the six months to September this year to be 2.0 billion yen, against an earlier prediction for a loss of 30 billion yen.
The Japanese electronics giant attributed it to exceeded business results in areas such as semiconductors (i.e. flash memory), digital media and power systems.
Toshiba, meanwhile, lowered its first-half net sales forecast to 2,955 billion yen from 3,150 billion yen, due to a strong yen and the global economic downturn.
Toshiba said that it narrowed its first-half net loss forecast to 58 billion yen, based on preliminary results.
The company had warned in May that it would sink 80 billion yen in the red. Toshiba incurred a deficit of 38.5 billion yen during the same period a year earlier.
The Japanese company, however, remains cautious.
Toshiba said that it is not changing its forecast for the full year to March 2010, noting "the outlook for the global economy in the second half of fiscal 2009 and beyond remains highly opaque."
The company has forecast an annual net loss of 50 billion yen for the current year on revenue of 6,800 billion yen. It aims to return to the black at the operating level with a profit of 100 billion yen.
Toshiba is due to announce its full interim results on Friday.