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Toshiba (OTC:TOSYY) forecast an operating profit of 110 billion yen ($814.51 million) for the year through March 2024, a marginal drop from 110.5 billion yen last year.
Seven analysts compiled by Refinitiv expect an operating profit of 166.03 billion yen.
Toshiba’s board accepted a 2 trillion yen ($14.81 billion) buyout offer from the JIP-led group, potentially drawing a line under years of upheaval at the conglomerate.
Still, the board has not yet decided whether to recommend shareholders to tender their shares. While the deal would give shareholders a reasonable exit to recover their investment, the offer price of 4,620 yen per share is likely not satisfactory.
Toshiba said in a separate statement on Friday that the management team has “received positive responses from various stakeholders, including many customers, business partners and employees” about the buyout offer.
“The management team concluded there was an expectation that the transaction would help the company build a stable management base, and that the transaction would lead to the enhancement of the corporate value of the company, and is therefore working with JIP to quickly complete the transaction,” it said.
($1=135.0500 yen)
