According to foreign media reports, Japanese technology company Toshiba said it would expect the company's net profit to increase by 33% this fiscal year, thanks to the $18 billion in revenue from the sale of the chip division.
Toshiba said that the net profit for the current fiscal year will likely increase from 804 billion yen in the previous fiscal year to 1.07 trillion yen (about $9.75 billion), marking the company's second consecutive year of profitability. Previously, Toshiba had suffered losses for many years due to financial fraud scandals and cost overruns brought by its nuclear power sector.
Last year, Toshiba agreed to sell the chip division to a consortium led by Bain Capital and South Korea's SK Hynix Group, but sources said that if the deal fails to get approval from Chinese regulators this month, Toshiba may seek to abandon the sale. , in turn, support other options.
However, Toshiba said on Tuesday that it still plans to sell the chip division.
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