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Toshiba expects to raise profit 63% as investors call for strategic review

TOKYO, May 14 (Reuters) – Japanese company Toshiba Corp forecast a 63% rebound in annual operating profit on Friday following the impact of the pandemic in the past year, partly thanks to the restructuring measures introduced.

The conglomerate, under great pressure from requests for a strategic review after rejecting a $ 20 billion purchase offer, said it projects 170 billion yen ($ 1.6 billion) of operating profit for the year through the end of March. .

This figure contrasts with the consensus estimate of 179 billion yen made by 13 analysts surveyed by Refinitiv.

In the year just ended, Toshiba posted a 20% decline in operating profit to 104.4 billion yen. ($ 1 = 109.5200 yen)

(Reported by Makiko Yamazaki; Edited by Edwina Gibbs, translated by Michael Susin at the Gdansk newsroom)

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