Toshiba Corporation recorded a 139% increase in net profit in Q3, rising to ¥41.1 billion ($350.1 million) from ¥17.2 billion ($146.5 million) in Q3 of the previous year, while turnover improved 6.6% to ¥1.6 trillion ($13.6 billion) from ¥1.5 trillion ($12.7 billion). For the first nine months, Toshiba’s net profit was 85.8% higher year on year at ¥71.9 billion ($612.5 million) from ¥38.7 billion ($329.6 million) for the corresponding period of last year, on turnover which rose from ¥4.5 trillion ($38.3 billion) a year earlier to ¥4.7 trillion ($40 billion). Toshiba’s sharp increase in net profit in Q3 was partly attributed to the settlement of a lawsuit. Last week, Toshiba announced that it was undertaking a fundamental restructuring of its visual products business by ceasing TV development and sales operations in North America and licensing the North American TV business to Taiwan’s Compal Electronics (It’s Official: Toshiba Leaves North American TVs).
