Toshiba troubles continue as sales drop to 18-month low

PanARMENIAN.Net - Japan's troubled Toshiba has posted a first-quarter net loss for the three months to June as sales fell to their lowest point in two and a half years, BBC News reports.

The firm said in a statement that its net losses for the quarterly period were 12.3 billion yen ($102m).

It noted poor performances in its televisions, home appliances and personal computer businesses.

Last week, the Tokyo-based firm released a full-year net loss of $318m for the year to March 2015.

The full-year numbers had been delayed amid a recent accounting scandal.

In its first quarter results statement released on Monday, September 14, Toshiba said Japan's domestic economy had not shown signs of acceleration because of sluggish performance by smaller businesses that depended on domestic demand.

It also said Japan as a whole was experiencing a decrease in consumer spending due to a decline in real incomes and exports.