Toshiba's operating profits more than double

From BBC - November 9, 2017

Toshiba's half-year operating profits have more than doubled, but the increase was driven by strong sales at the memory chip business that it has agreed to sell.

Operating profits at the Japanese conglomerate rose to 231.8bn yen ($2bn; 1.55bn).

The chip unit accounts for about a quarter of Toshiba's revenues.

However, Toshiba agreed to sell the unit for $18bn in September to cover losses at its US nuclear business.

The memory chip business is being sold to a consortium led by US private equity firm Bain Capital.


Continue reading at BBC »