Toshiba posts record earnings
Afp, Tokyo
Japan's Toshiba Corp. said Thursday net profit jumped 76 percent to a record high in the year to March thanks to strong sales of electronic goods and its massive purchase of US nuclear power plant maker Westinghouse. The high-tech giant said it also benefitted by selling securites and fixed assets to offset the cost of buying Westinghouse, which was one of the largest Japanese acquisitions overseas in years. Toshiba posted a record net profit of 137.4 billion yen (1.16 billion dollars) for the financial year, up from 78.2 billion yen. Revenue rose 12 percent at 7.12 trillion yen, with operating profit gaining seven percent to 258.4 billion yen. The company said it enjoyed brisk demand for its electronics products, including personal computers, televisions and portable digital music players.
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