Japan's Toshiba says its quarterly net profit has tumbled 62 per cent from a year earlier, with demand for its televisions, computers and other digital products stumbling.
The technology and engineering conglomerate said it had earned 23.01 billion yen ($229.76 million) between January and March, the last quarter of its fiscal year.
This was down from 61.22 billion yen in the same three months a year earlier. Sales were nearly flat at 1.75 trillion yen, it said.
A sharp decline in the yen has helped many Japanese firms as they report full-year earnings, making them more competitive overseas and boosting the value of repatriated foreign income, which inflates their bottom line.
But the yen's weakening has had a mixed impact on Toshiba.
Profit margins in its memory chip unit improved while the yen's depreciation hurt Toshiba's flat-panel television and personal computer businesses because it imports many dollar-denominated parts to make those goods.
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