Toshiba Corp. said Tuesday it posted a net loss of 52.14 billion yen ($344 million) for the six months ended September due to losses related to its chip affiliate Kioxia Holdings Corp., marking its last earnings announcement before its scheduled delisting next month.
The figure in the reporting period is a reversal from a net profit of 100.66 billion yen the Japanese conglomerate booked a year earlier. Sales fell 6.1 percent to 1.50 trillion yen as hard disk business slowed.
Toshiba said it is considering whether to release earnings results after it delists from the Tokyo Stock Exchange on Dec. 20.
The red ink came as Toshiba posted a loss of about 100 billion yen linked to its 40 percent stake in Kioxia, which has been struggling with a weakening demand for flash memory chips.
In a separate release the same day, the semiconductor manufacturer said it logged a record net loss of 189.1 billion yen for the April-September period.
The Japanese chipmaker, which had been seeking to integrate operations with its U.S. peer Western Digital Corp., halted merger talks last month after they found it difficult to gain approval from South Korea's SK Hynix Inc., a major investor in Kioxia, according to sources familiar with the matter.
Toshiba, however, maintained its earnings forecast for the year ending March, projecting its operating profit to decrease 0.5 percent from the previous year to 110 billion yen on sales of 3.2 trillion yen, down 4.8 percent.
A consortium led by Japan Industrial Partners Inc. succeeded in the 2 trillion yen takeover bid for Toshiba in September, paving the way for the troubled conglomerate to end its 74-year-long history as a public company and rebuild itself as a private firm.
Toshiba had been struggling to recover from a spate of problems in the 2010s, ranging from the overstatement of profits in financial filings to massive losses in its U.S. nuclear business.
