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Toshiba logs surprise Q1 operating loss on higher material costs

·1 min read

TOKYO, Aug 10 (Reuters) - Toshiba Corp said on Wednesday it had posted an operating loss in the first quarter as it grappled with a global chip shortage and rising material costs.

Toshiba posted an operating loss of 4.8 billion yen ($35.6 million) for the April-June quarter, versus a profit of 14.5 billion yen a year earlier.

That compares with a consensus estimate of a 19.4 billion yen profit from four analysts polled by Refinitiv.

But the scandal-laden Japanese industrial conglomerate, which is exploring going private and other options, maintained its profit forecast for the year ending March at 170 billion yen, up 7% from the previous year. ($1 = 134.98 yen) (Reporting by Makiko Yamazaki; Editing by Edwina Gibbs)