Toshiba Corp, the world’s second- biggest maker of flash memory, raised its full-year profit forecast as sales of smartphones boosts demand for memory chips that store data.
Net income will rise to ¥100 billion ($1.2 billion) in the 12 months ending March 31, the Tokyo-based company said today in a statement. The company in November forecast full-year profit of ¥70 billion. The average of 21 analyst estimates compiled by Bloomberg was for net income of ¥83.8 billion.
Toshiba’s chip business reported its fourth straight quarter of profits as demand rises for smartphones and tablet computers. Toshiba fell 3.2 per cent to close at ¥485 on the Tokyo Stock Exchange.