TOKYO, May 12 (Xinhua) -- Japan's Toshiba Corporation saw its net profits shrink by more than a third in the fiscal year 2022, the company said on Friday.
For the fiscal year from April 2022 to March 2023, net income attributable to shareholders of the company plunged 35 percent from the previous corresponding period to 126.57 billion yen (944.6 million U.S. dollars), Toshiba's latest business results showed.
During the period, its net sales edged up 0.7 percent to 3.36 trillion yen.
Its operating income came in at 110.55 billion yen during the reporting period, down 30.4 percent from a year ago.
According to the company, the decrease was mostly due to a drastic change in the hard disk drive market, among other one-time factors.
Despite deteriorated equity in earnings of affiliates, non-operating income in the fiscal year maintained the same level as the previous year on improved income on sales of securities, the company said.
For the fiscal year starting in April, Toshiba expected an operating income of 110 billion yen, reflecting increased fixed costs and restructuring costs to secure future growth, according to the results. (1 U.S. dollar equals 134 Japanese yen) ■