Toshiba ends the year on a low

You probably don't want to her this, but...

Toshiba has slashed expectations for its full-year results following a poor third quarter. The Japanese electronics company now expects losses to hit Y260bn (£1.3bn) for the financial year ending 31 March 2002, compared to forecasts in October of Y200bn (£1.06bn). The pessimistic forecasts follow unimpressive third quarter results when losses ballooned to Y143.59bn (£764m) and sales dropped to Y84.9bn (£451m). Most of the losses came form the company's electronic devices and components division. However, losses in the digital media division, which includes PCs, shrank from Y4.3bn (£22m) last year to Y2.9bn (£15m) and sales in the division fell by only two per cent.