The delayed result follows the sale of its stake in Finnish firm
Kone, in a bid to bolster its bottom line amid a recent accounting
scandal.
The sale of the 4.6% stake in the lift manufacturer was worth $946.2m.
Toshiba's
president and vice-president resigned in July after an independent
panel found the company had overstated profits for the past six years.
The panel said operating profits had been overstated by $1.22bn, roughly triple an initial estimate by Toshiba.
The company has apologised to investors and has made attempts to avoid further accounting irregularities.
'Strong performance'
The firm said in a statement
that "while the US economy had lost some momentum... the UK had
witnessed a strong performance and the eurozone had sustained a gradual
recovery".
It also said that despite China's slowdown, solid growth had been seen in South East Asia and India.
During
a news conference after the earnings were released, Toshiba also
announced that it had decided there was no need to write down the value
of its US nuclear operation, Westinghouse.
The accounting scandal had raised concerns that it was overestimating the value of the business.
Chief
executive Masashi Muromachi also said that he was considering a "bold
restructuring" of its semiconductor business by the end of the year.
The full-year results posted on Monday had been delayed twice.
Shares rose on the earnings by as much as 3.5%, closing higher by 1.8% in Tokyo.
No comments:
Post a Comment