TOKYO (Reuters) – Toshiba Corp expects its annual operating profit to jump four-fold to reach a previously forecast level, aided by major restructuring last year, even as it works to offload its potentially money-losing U.S. LNG business to maintain momentum.
FILE PHOTO: The logo of Toshiba Corp is seen at its headquarters in Tokyo, Japan January 23, 2017. REUTERS/Toru Hanai/File Photo
The Japanese conglomerate forecast profit of 140 billion yen ($1.28 billion) for the year through March 2020, versus 35.4 billion yen a year earlier. It was in line with the targeted amount Toshiba set in its five-year plan.
The outlook compared with the 116.35 billion yen average of 16 analyst estimates compiled by Refinitiv.
Toshiba’s share price shot up after the firm announced the five-year