Published October 31, 2012
TOKYO – Japan's Toshiba Corp <6502.T> cut its full-year group operating profit forecast to 260.00 billion yen ($3.27 billion) on Wednesday from its previous outlook of 300 billion yen, saying the uncertain global economy continued to weigh on its prospects.
The company said the continuing European debt crisis, slowdowns in China and India, and a strong yen are combining to "increase uncertainty about the future."
Despite the cloudy outlook, Toshiba reported a slightly better-than-expected operating profit of 57.50 billion yen for the July-September quarter, although that was still down 23.2 percent from the same period last year.
The result topped the 55.5 billion yen operating profit forecast by four analysts surveyed by Thomson Reuters I/B/E/S.
(Reporting by Mari Saito; Editing by Matt Driskill)