Japanese electronics giant Toshiba has reported that it expects to post a net loss of 110 billion yen ($970 million) this financial year following the sale of its memory chip business, according to a report by Reuters.
The loss will come instead of its previously forecast net profit of 230 billion yen due to taxes incurred during the sale of the chip business, although its revenue forecast remains unchanged, Reuters reported.
Toshiba had last month announced that it would be selling its memory chip business for 2 trillion yen to a consortium led by Bain Capital that includes Seagate …