Toshiba Corporation announced its consolidated financial results for FY2024 (ending March 31, 2025), reporting its highest net sales, operating income, and net income since divesting its memory business. The company recorded 198.5 billion yen in operating income, nearly five times that of the previous fiscal year, and 279.0 billion yen in net income, marking a strong recovery across all business segments.
This performance underscores Toshiba’s successful execution of its “Revitalization Plan,” launched in FY2023, and reflects significant gains across infrastructure, digital, and industrial solutions. According to Koji Ikeya, Corporate Senior Executive Vice President, “FY2024 was a pivotal year of transformation and foundation-building. The results reflect the impact of management reforms, disciplined risk management, and ongoing structural efficiency improvements.”
Semiconductor-Driven Digital Solutions Segment Delivers Resilience
Among the standout contributors to this year’s results was Toshiba’s Digital Solutions segment, which includes key semiconductor-linked businesses such as embedded systems, power electronics platforms, and software-defined control solutions. Sales in this segment increased year-over-year, benefiting from sustained demand in data processing, industrial automation, and smart infrastructure applications.
The strong recovery of affiliate Kioxia Holdings—a leader in NAND flash memory—also contributed significantly to equity earnings, helping propel Toshiba’s net income to its highest level in years.
Infrastructure Strength and Order Growth
Toshiba reported strong YoY growth in orders and backlog for Energy Systems & Solutions and Infrastructure Systems & Solutions, driven by large-scale global projects in power transmission, rail, and renewable energy. The company emphasized that both orders received and order backlog reached their highest levels since FY2018, reinforcing a strong foundation for FY2025.
Outlook for FY2025 and Beyond
Toshiba enters FY2025 with momentum as it shifts from recovery to growth. With the second year of its revitalization strategy now underway, the company is targeting sustained profitability improvements and a return on sales (ROS) of 10% by FY2026.
Across its semiconductor-related operations and digital platforms, Toshiba continues to align its product development toward long-term trends in decarbonization, digitalization, and resilience in global supply chains.
Original – Toshiba