TOKYO May 15 Toshiba Corp said on
Monday it expects a net profit of 50 billion yen ($440 million)
in the current business year to next March, a turnaround from an
estimated loss of 950 billion yen in the year just ended.
The estimate for this business year excludes earnings from
its chip unit and its smart meter susbidiary Landis+Gyr - both
of which it plans to sell to help dig itself out of a financial
In its unaudited earnings release, Toshiba said it expects
to have a negative net worth of 540 billion yen at the end of
March if it fails to raise funds from the sale of its prized
chip unit soon.
($1 = 113.3500 yen)
(Reporting by Makiko Yamazaki; Editing by Edwina Gibbs)