Technology giant Toshiba's second-quarter loss narrowed on cost reductions, helping Japan's biggest memory chipmaker beat its first-half forecast.
The company today posted a net loss of 200 million yen (€1.44 million) for the three months to the end of September, compared with a 26.9 billion yen (€194 million) deficit a year earlier.
Operating profit, or sales minus the cost of goods sold and administrative expenses, rose to 39.6 billion yen (€286 million0 in the quarter, from 710 million yen a year earlier.
Sales fell 14 per cent to 1.62 trillion yen. Toshiba is cutting jobs, research and capital spending to weather
the slump in demand for semiconductors, mobile phones and flat-panel televisions.
The company, which reported a record loss last fiscal year, today maintained its outlook for a narrower deficit and a return to profit on an operating basis in the 12 months ending March.