Toshiba Issues Revised Business Forecasts for FY1999

TOKYO (PROTEXT) - Toshiba Corporation today issued revised non-consolidated and consolidated forecasts for the current fiscal year to March 31, 2000. 1. Non-consolidated forecast Today's announcement revises the forecast for FY1999 that Toshiba issued on October 26, 1999, when the company announced the 1st half result of the fiscal year. The key points are as in the table below. (billion YEN) Net Sales Recurring Profit Extraordinary Net Income Gains (Losses) (Loss) Original Forecast (A) 3,520 0 -50 -30 Revised Forecast (B) 3,520 0 -110 -65 (B)-(A) 0 0 -60 -35 FY1998 3,407.6 4.9 -17.1 -15.5 2. Consolidated forecast Today's announcement revises the forecast for FY1999 that Toshiba issued on September 13, 1999. The key points are as in the table below. (billion YEN) Net Sales Income (Loss) Before Net Income(Loss) Income Taxes and Minority Interests Original Forecast (A) 5,670 -10 -15 Revised Forecast (B) 5,670 -70 -50 (B)-(A) 0 -60 -35 FY1998 5,300.9 11.2 -13.9 3. Reason for revision Toshiba has reached a settlement in a class-action lawsuit in the U.S. concerning the floppy disc drive controller (FDC) in its portable PCs. The company will reflect a 110 billion yen (approximately US$1 billion) extraordinary loss in its financial results for fiscal year 1999 in connection with the settlement. The company also anticipates an extraordinary gain of 50 billion yen (approximately US$455 million) from sales of securities. ots Original Text Service: Toshiba Corporation Internet: http://www.newsaktuell.de Contact: Keisuke Ohmori of Toshiba Corporation, +81-3-3457-2105, or keisuke.oomori@toshiba.co.jp Web site: http://www.toshiba.co.jp Subscribers please note that material bearing the slug "PROTEXT" is not part of CTK's news service and is not to be published under the "CTK" slug. Protext is a commercial service providing distribution of press releases from clients, who are identified in the text of Protext reports and who bear full responsibility for their contents. PROTEXT