Toshiba Corp. said Monday its group net profit rose 17.6 percent to ¥45.7 billion in the fiscal first half thanks to brisk sales of computers in Europe and the United States and its core semiconductor business.
The electronics giant posted a record ¥3.7 trillion in sales in the April-September period, topping the ¥3.6 trillion forecast it offered in July. However, pretax profit dropped 8.2 percent to ¥76.8 billion due to changes in the tax code introduced in April that caused Toshiba to revise its depreciation system.
Like many electronics makers, Toshiba suffered from price declines of its products such as computers, liquid crystal displays and memory devices. As a result, the company bled ¥732 billion.